Taiwan stock market overtakes UK to become seventh largest; market cap above $4 trillion
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Taiwan's stock market has surpassed the UK's to become the world's seventh-largest, driven by a surge in technology stocks and AI-linked investments. The total market capitalization of Taiwanese companies reached $4.14 trillion, outpacing the UK's $4.09 trillion.
Taiwan's equity market has become the world's seventh-largest, overtaking the UK, with a total market capitalization of $4.14 trillion. The rally is driven by a strong surge in the Taiex index and robust revenue growth in tech companies like Taiwan Semiconductor Manufacturing Company. The Taiex has surged 16% this month and hit record highs, making it one of the fastest-recovering markets. Market participants view Taiwan as a proxy for AI hardware demand, and investor flows are likely to remain firm as long as AI spending stays strong. Despite Taiwan's economy being smaller than the UK's, booming exports of AI-related products are lifting growth expectations. The UK's FTSE 100 has lagged, rising less than 4% amid concerns over inflation and interest rates.
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