Taiwan’s retail margin debt has climbed to NT$600 billion, roughly $19 billion, as of June 18, 2026. That figure eclipses the previous all-time high set during the dot-com bubble more than a quarter century ago.
The numbers behind the frenzy
Margin debt has increased over 160% in the past 12 months, a pace that makes even South Korea’s 94% jump over the same period look measured by comparison.
Taiwan’s stock market has risen over 100% in the past year, making it the world’s fifth-largest equity market. Much of that rally traces back to artificial intelligence enthusiasm, with semiconductor titan TSMC at the center of the storm.
Total borrowings backed by stocks and ETFs exceeded NT$1 trillion as of the end of May 2026. That means the broader system of broker financing, including margin loans and stock-pledged borrowing, has expanded well beyond just the headline margin debt figure.
