Underlying Index Performance: The price of 00655L.TW, being an ETF tracking an index, directly reflects the performance of that underlying index. A rise in the index leads to a rise in the ETF's price, and vice-versa.

Supply and Demand: Market dynamics of supply and demand for the ETF shares themselves play a crucial role. Higher demand pushes the price up, while increased selling pressure can lower it.

Expense Ratio: The management fee charged by the ETF provider impacts the overall return, subtly affecting the ETF's price compared to the pure index performance.

Trading Volume: High trading volume usually implies greater liquidity, potentially leading to tighter bid-ask spreads and more efficient price discovery for the ETF.

Currency Exchange Rates: Since the ETF and potentially its underlying assets are traded in TWD (Taiwan Dollar), currency fluctuations can impact the price, especially if the underlying assets are denominated in other currencies.

Dividend Distributions: If the underlying index components pay dividends, these are passed on to ETF holders, which can affect its price around dividend distribution dates.

Market Sentiment: Overall market sentiment towards the sector or market represented by the tracked index impacts investor confidence and consequently affects the ETF price.

Economic News and Events: Macroeconomic factors and news events affecting the Taiwanese economy or the specific sectors in the underlying index influence investor behavior and thus the ETF price.

Interest Rates: Changes in interest rates can impact the attractiveness of the ETF relative to other investment options, indirectly influencing its price.

Political and Geopolitical Events: Political instability, trade wars, or geopolitical tensions can create uncertainty, impacting market sentiment and leading to price volatility in the ETF.

Fund Flows: Significant inflows or outflows from the ETF can affect its price, as the fund manager may need to buy or sell underlying assets to match investor demand.