AI Boom Pushes Taiwan Stock Market Value Above Canada to Rank 6th Globally

(Central News Agency, Taipei, 29th, Combined Foreign Despatch) Bloomberg News reported that driven by strong demand for artificial intelligence (AI) related stocks and the rapid rise in the stock price of semiconductor foundry leader TSMC, Taiwan's total stock market capitalization has surpassed Canada, making it the 6th largest stock market in the world.

Data compiled by Bloomberg shows that the total market capitalization of listed companies in Taiwan has risen by more than 35% this year, reaching US$4.47 trillion; the total market capitalization of the Canadian stock market rose by about 5%, reaching US$4.44 trillion. TSMC, which accounts for nearly 45% of the Taiwan benchmark index, saw its market capitalization expand to US$1.8 trillion during this period.

Taiwan's stock market value overtaking Canada shows how the component structure of an index shapes the performance of a country's stock market. Taiwan's technology-focused stock market benefited from the global semiconductor and AI craze; in contrast, Canada's resource and finance-focused benchmark index had a relatively flat return performance against the backdrop of fluctuating commodity prices and slowing economic growth.