Underlying Index Performance: The price of 00631L.TW heavily depends on the performance of the underlying index it tracks. Positive index movements typically drive the ETF price up, while negative movements cause it to fall.

Supply and Demand: Market demand for the ETF directly impacts its price. Higher demand can push the price above its Net Asset Value (NAV), while lower demand can cause it to trade below NAV.

Interest Rate Changes: Broad interest rate fluctuations can indirectly influence the ETF's price, potentially affecting the valuation of companies within the tracked index.

Currency Exchange Rates: If the ETF's underlying index includes assets denominated in other currencies, exchange rate fluctuations can impact the ETF's price when converted back to the local currency.

Market Sentiment: General market sentiment and investor confidence play a significant role. Positive sentiment often leads to increased buying pressure, while negative sentiment can trigger selling.

Dividend Payments: Dividend payments from the underlying companies within the index are reflected in the ETF's price, typically causing a slight decrease on the ex-dividend date.

Expense Ratio: The ETF's expense ratio, which covers management and operational costs, indirectly affects the price by slightly reducing the overall return.

Economic Indicators: Key economic indicators such as GDP growth, inflation, and unemployment rates can influence investor sentiment and the performance of companies within the index, ultimately affecting the ETF's price.