South Korea and Taiwan close in on India’s m-cap

South Korea’s market value has surged 175% to $4.18 trillion, and that of Taiwan increased 85% to $4.61 trillion, driven by the AI chipmakers. In contrast, India’s market capitalisation is down 5% to $4.92 trillion from the start of the year as foreign investors’ risk-off sentiment has weighed down its equity market.

Agencies

The stock market prospects of both countries have been fueled by a handful of companies such as Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest chip foundry, and South Korea’s Samsung Electronics and SK Hynix. Samsung – the second Asian company to cross the $1 trillion market cap milestone, after TSMC – along with peer SK Hynix, comprises over 40% of Korea’s benchmark Kospi.

India’s market cap is the third-highest among emerging markets after China and Hong Kong, and the fifth-highest in the world.