Raw Material Prices: Increases in natural rubber or synthetic rubber prices, key inputs for Taiwan Cement's tire business, can negatively impact profit margins and thus the stock price. Conversely, lower prices can boost profitability.

Demand for Tires: As a major tire manufacturer, demand fluctuations in the automotive and transportation sectors significantly affect sales and profitability. Economic growth typically leads to higher demand.

Exchange Rates: Currency fluctuations, particularly between the New Taiwan Dollar (TWD) and other major currencies like USD, EUR, JPY, impact export revenues and import costs, influencing profitability.

Competition: The intensity of competition in the tire industry, both domestically and internationally, affects pricing power and market share. Increased competition could pressure margins and the stock.

Government Policies: Changes in regulations related to vehicle standards, import/export tariffs, environmental regulations, or infrastructure spending can affect the demand for tires and the cost of production.

Overall Economic Conditions: General economic conditions in Taiwan and key export markets influence consumer spending and business investment, which, in turn, impact demand for tires and the company's financial performance.

Investor Sentiment: Overall market sentiment, news related to Taiwan Cement, industry trends, and broader macroeconomic factors can influence investor confidence and drive trading activity in 2106.TW.

Company Performance: Taiwan Cement's financial results (revenue, profit, margins) and strategic initiatives (new products, market expansion, cost-cutting) directly influence investor perceptions of its value.