TWSE Promotes 'Unpolished Jade Index' to Address Market Congestion, Says Hsieh Chin-ho
With the Taiwanese stock market heavily concentrated in AI-related stocks, the Taiwan Stock Exchange (TWSE) is actively promoting the 'Unpolished Jade Index'. This initiative aims to highlight fundamentally sound companies with growth potential outside the AI sector. Financial expert Hsieh Chin-ho believes this will help alleviate market overcrowding and present a more balanced picture of Taiwan's economic landscape.
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- 📰 Published: May 18, 2026 at 16:31
- 🔍 Collected: May 18, 2026 at 17:01 (30 min after Published)
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(CNA, Taipei, 18th, by reporter Tseng Jen-kai) As Taiwanese stocks repeatedly hit new highs, AI-related technology stocks have been the standout performers. To balance the capital market, the Taiwan Stock Exchange (TWSE) is actively promoting the 'Unpolished Jade Index.' Hsieh Chin-ho, president of Wealth Magazine, believes this will help solve the problem of excessive trading congestion in the Taiwanese stock market.
The TWSE held the 'AI Leadership × Unpolished Jade Shining' Taiwan Capital Market Growth Forum today. In his speech, Chairman Sherman Lin stated that driven by strong global demand in the AI industry, Taiwan stands at the core of the global semiconductor and technology sectors, fueling capital market growth. However, besides the highly watched AI industry stocks, Taiwan's capital market has also nurtured many 'unpolished jade' enterprises that have long been dedicated to their core business, operate steadily, and have growth potential.
Lin believes that technology stocks are the engine of the Taiwanese market, while the 'unpolished jade' stocks are its core strength. The TWSE hopes to discover more 'unpolished jade' enterprises with hidden value, making them more visible. Through the 'AI Leadership × Unpolished Jade Shining' event, they aim to create a dual-track dynamic of mutual drive, shaping the Taiwanese stock market into a more resilient and growth-oriented capital market.
Hsieh Chin-ho, a keynote speaker at the forum, argued that the recent rally in Taiwanese stocks is justified, but capital is concentrated in a few sectors. He noted that the rise of both active and passive ETFs has led to similar stock selections, easily causing a crowding effect and increased market volatility. He believes the TWSE's promotion of the Unpolished Jade Index will help balance market congestion and complete the picture of Taiwan's economic outlook.
Hsieh observed that in the past, major rallies in the Taiwanese market were often followed by crashes, but this time is different. AI and TSMC, among others, have provided a very solid foundation for the market. He cited Taiwan's first-quarter GDP growth rate of 13.69% as an 'unbelievable' figure, noting that such double-digit growth typically occurs in an economy's 'adolescent' stage. The last time Taiwan saw such a number was 30 years ago, demonstrating the power of the current AI technology wave that is driving the market's charge.
However, Hsieh believes that after the significant rise, the market is showing short-term signs of overheating. As the first-quarter financial reports of listed companies are released, some stocks with promising prospects but whose prices have run too far ahead of their earnings are seeing corrections, making market fluctuations quite reasonable.
Hsieh said that the source of Taiwan's economy has shifted from being market-driven to technology-driven. For example, TSMC's active cultivation of the domestic supply chain in recent years has led to the splendid transformation of many traditional Taiwanese companies like Cinsa, Trumplus, Sun-S, Good-Hand, and Sun Mines. For traditional enterprises, he argued, they can no longer wait for economic cycles but must accelerate technological upgrades and transformation.
Hsieh urged the government, which has collected significant tax revenue from Taiwan's economic growth and stock market boom in recent years, not to always resort to universal cash handouts of NT$10,000. Instead, it should find ways for more people to benefit, such as by raising the salaries of civil servants, ministry heads, university professors, and medical personnel.
Hsieh stated that the heads of listed companies should also consider that when their companies make large profits, they should not only reward shareholders but also provide better salaries for their employees to make Taiwan as a whole more competitive. (Editor: Chang Chun-mao)
The TWSE held the 'AI Leadership × Unpolished Jade Shining' Taiwan Capital Market Growth Forum today. In his speech, Chairman Sherman Lin stated that driven by strong global demand in the AI industry, Taiwan stands at the core of the global semiconductor and technology sectors, fueling capital market growth. However, besides the highly watched AI industry stocks, Taiwan's capital market has also nurtured many 'unpolished jade' enterprises that have long been dedicated to their core business, operate steadily, and have growth potential.
Lin believes that technology stocks are the engine of the Taiwanese market, while the 'unpolished jade' stocks are its core strength. The TWSE hopes to discover more 'unpolished jade' enterprises with hidden value, making them more visible. Through the 'AI Leadership × Unpolished Jade Shining' event, they aim to create a dual-track dynamic of mutual drive, shaping the Taiwanese stock market into a more resilient and growth-oriented capital market.
Hsieh Chin-ho, a keynote speaker at the forum, argued that the recent rally in Taiwanese stocks is justified, but capital is concentrated in a few sectors. He noted that the rise of both active and passive ETFs has led to similar stock selections, easily causing a crowding effect and increased market volatility. He believes the TWSE's promotion of the Unpolished Jade Index will help balance market congestion and complete the picture of Taiwan's economic outlook.
Hsieh observed that in the past, major rallies in the Taiwanese market were often followed by crashes, but this time is different. AI and TSMC, among others, have provided a very solid foundation for the market. He cited Taiwan's first-quarter GDP growth rate of 13.69% as an 'unbelievable' figure, noting that such double-digit growth typically occurs in an economy's 'adolescent' stage. The last time Taiwan saw such a number was 30 years ago, demonstrating the power of the current AI technology wave that is driving the market's charge.
However, Hsieh believes that after the significant rise, the market is showing short-term signs of overheating. As the first-quarter financial reports of listed companies are released, some stocks with promising prospects but whose prices have run too far ahead of their earnings are seeing corrections, making market fluctuations quite reasonable.
Hsieh said that the source of Taiwan's economy has shifted from being market-driven to technology-driven. For example, TSMC's active cultivation of the domestic supply chain in recent years has led to the splendid transformation of many traditional Taiwanese companies like Cinsa, Trumplus, Sun-S, Good-Hand, and Sun Mines. For traditional enterprises, he argued, they can no longer wait for economic cycles but must accelerate technological upgrades and transformation.
Hsieh urged the government, which has collected significant tax revenue from Taiwan's economic growth and stock market boom in recent years, not to always resort to universal cash handouts of NT$10,000. Instead, it should find ways for more people to benefit, such as by raising the salaries of civil servants, ministry heads, university professors, and medical personnel.
Hsieh stated that the heads of listed companies should also consider that when their companies make large profits, they should not only reward shareholders but also provide better salaries for their employees to make Taiwan as a whole more competitive. (Editor: Chang Chun-mao)