Taiwan’s US Stock Sub-Brokerage Turnover Tops NT$11 Trillion

Sub-brokerage services allow Taiwanese investors to trade US shares through local securities firms without opening overseas accounts, making turnover a closely watched gauge of retail risk appetite. As generative AI drives demand for computing power and faster data transmission, interest has broadened beyond a handful of technology giants to the industry’s “picks and shovels,” including semiconductor, chip packaging and testing, and optical communications suppliers.

Trading in US stocks through Taiwan’s sub-brokerage channel exceeded NT$11 trillion in the first seven months of 2025, an all-time high, according to domestic securities-industry statistics. The figure represents aggregate trading turnover rather than net capital inflows. From the second quarter, investors substantially reduced positions in some large technology companies and concentrated purchases in semiconductor and AI infrastructure suppliers, while local brokerages expanded digital stock-screening tools to capture the surge in demand.