Tseng's late heroics gave her a final round of 6-under-par 65 to finish the tourney at 13-under 200 -- one stroke better than the tournament record set two years ago by Seon Hwa Lee.
The victory was Tseng's fifth career LPGA Tour title.
Wie's birdie on the 18th forced Tseng to match her to avoid a playoff. Wie closed with a 2-under 69 to finish one back minus-12.
Mika Miyazato fired a 7-under 64 to take third place at 10-under-par 203, while Inbee Park (65) grabbed sole possession of fourth at minus-8.
In-Kyung Kim (65), Jiyai Shin (66), Kristy McPherson (68) and Lee (69) ended knotted for fifth one stroke further back at minus-7.