The TAIEX, Taiwan’s benchmark stock index, dropped 156 points, or 0.5%, to 39,365 in Wednesday morning trading, tracking a downbeat session on Wall Street overnight amid signals of weakness in OpenAI and rising oil prices. The broader index was down for a second straight day, as traders took profits after it hit a record high for the second time in a week and breached the psychological 40,000 level for the first time intraday on Monday. Traders were cautious ahead of the Fed’s monetary policy decision later today. The decline was mainly driven by contract chipmaker TSMC, which accounts for more than 40% of total market capitalization, and fell 0.7%. Electronic technology and technology services stocks also weighed on the index, with other early losers including ASE Technology Holding (-2.7%), MediaTek (-1.7%), and Hon Hai Precision Industry (-0.4%).