TAIWAN PERSPECTIVE

Taipei witnessed one of the year's most euphoric trading sessions. The Taipei Times documents a sharp surge in Taiwanese stocks driven by ceasefire optimism — a reaction revealing how deeply the island's economy is tied to global oil flows. Taiwan, which imports virtually all its energy and whose semiconductor industry is its beating heart, sees Hormuz reopening as oxygen: lower oil prices mean reduced production costs for TSMC and its peers. But the stock market euphoria masks a structural vulnerability: Taiwan remains hostage to any conflict disrupting maritime routes, and the two-week ceasefire is merely a reprieve. Taiwanese coverage is the most optimistic in the panel, reflecting relief from weeks of prohibitive energy prices. The geopolitical blind spot is glaring: Taipei draws no parallel between Iran's ability to close Hormuz and China's ability to blockade the Taiwan Strait.