Why the head of Taiwan's stock exchange wants you to look past TSMC -- and embrace the 'technology island' | Fortune

Taiwan’s stock exchange chair Sherman Lin is urging investors to look beyond TSMC when evaluating Taiwan’s market, arguing the real value is the island’s wider AI supply chain. Bloomberg calculations cited in the piece say Taiwan overtook India to become the world’s fifth-largest stock market in May, but about two-fifths of that value comes from TSMC. The article notes TSMC is worth close to $2 trillion, produces advanced chips, and accounts for more than 40% of the TAIEX, and up to around 60% of the MSCI Taiwan Index. Lin positions Taiwan as a “technology island” where smaller, investable firms support the ecosystem. The Taiwanese government forecasts 11% growth for 2026, its fastest since 1987. Analysts cited also argue smaller “picks-and-shovels” suppliers have sometimes outperformed TSMC over the last three years.