Underlying Index Performance: 00689R.TW tracks a specific index. The price of the ETF is highly influenced by the performance of the underlying index. When the index constituents’ prices rise, the ETF’s price also tends to rise, and vice versa.

Supply and Demand: Market forces of supply and demand affect the ETF price. Increased demand leads to price increases, while increased supply leads to price decreases.

Investor Sentiment: Overall market sentiment and investor perception regarding the sectors or assets represented in the underlying index can significantly impact the demand and price of the ETF.

Currency Exchange Rates: Since the ETF may invest in assets denominated in other currencies, fluctuations in exchange rates between the NTD (New Taiwan Dollar) and those currencies can affect the ETF's price.

Management Fees and Expenses: Although these don't directly change the market price, the ETF's expense ratio influences the overall return and can indirectly impact its attractiveness to investors, affecting demand and price.

Tracking Error: The difference between the ETF's performance and the performance of its underlying index is known as tracking error. Higher tracking error may make the ETF less appealing, affecting its price.

Market Liquidity: The ease with which ETF shares can be bought and sold affects its price. Lower liquidity can lead to wider bid-ask spreads and potentially more volatile price movements.

Economic Conditions: Macroeconomic factors like interest rates, inflation, and economic growth can influence the performance of the companies within the underlying index, indirectly impacting the ETF's price.

Political and Regulatory Events: Changes in government policies, regulations, or political events can influence investor confidence and market sentiment, potentially impacting the demand and price of the ETF.

Global Events: Major global events, such as pandemics, wars, or economic crises, can significantly impact financial markets and the performance of the underlying assets of the ETF.