Needing to double in the tenth frame, Tseng answered superbly to beat his fellow team-mate, 223-226 to win the tie.
"Siu Hong is a very good bowler and to beat hime, you need 110% focus," said the 25-year-old mmember of the Hong Kong national team. "The spare in the seventh frame was important and I thought I had the match already at that stage.
"When Siu Hong rolled three strikes-in-a-row, I knew I had to double up in the final frame. Of course the pressure was great but luckily I made good my shots. It's seems a long time since I've won a tour title. I've finished second on so many ocassions, this victory feels great."
The champion easily defeated tour debutant, Tomoyuki Sakasi of Japan, 200-169 in the second semi-finals to earn a crack at the title. Tseng rolled the highest game of the tournament after thrashing Ryan Lalisang of Indonesia, 254-181 in the opening round.
Tseng went on to edge current Asian ranked No. 1, Shaker Al Hassan of UAE, 200-194 in the second round to reach the semi. Wu beat Wicky Yeung in an all-Hong Kong semi-final, 221-174 to face Tseng in the final.