Fundamentally, 00860B.TWO's price mirrors its Net Asset Value (NAV).

Underlying Assets: The primary driver is the performance of the assets the ETF holds. If the value of the underlying stocks or bonds rises, the ETF's price typically increases proportionally. Conversely, a decline in these assets will decrease the ETF's price.

Supply and Demand: Market supply and demand for 00860B.TWO shares also influences its price. High demand can push the price above its NAV, while increased selling pressure can drop it below. This difference is called a premium or discount.

Index Tracking: 00860B.TWO aims to replicate the performance of a specific index. Deviations from the index's performance, due to tracking error, can affect investor sentiment and thus its price.

Market Sentiment: Overall market optimism or pessimism significantly impacts ETF prices. During bullish periods, investors are more willing to buy, driving up prices. Bear markets often trigger selling, depressing prices.

Economic Conditions: Macroeconomic factors like interest rates, inflation, and economic growth influence the performance of the assets held by 00860B.TWO. Changes in these factors can alter investor expectations and impact the ETF's value.

Currency Fluctuations: If the underlying assets are denominated in a foreign currency, fluctuations in exchange rates will affect the NTD value of the ETF. A strengthening foreign currency will increase the NTD value, and vice versa.

Dividend Payments: Dividend distributions from the underlying holdings can have a slight impact. The ETF price may decrease marginally on the ex-dividend date as the dividend is no longer included in the asset value.