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Taiwan’s central bank chief urges caution on leverage as AI stock rally runs hot

Taiwan's central bank governor Yang Chin-long has warned investors against using excessive leverage to chase the country's AI-driven stock rally. The Taiex index has surged roughly 60% since the start of the year, largely driven by TSMC and other AI supply chain companies. Lawmakers have flagged a 'four loans' problem where mortgages, margin financing, personal loans, and car loans are being redirected into equities. Yang stopped short of declaring an AI bubble or proposing new regulatory curbs, instead cautioning that leverage can amplify losses during corrections. Taiwan's economy is uniquely exposed to AI sentiment given its heavy reliance on chip exports.