Taiwan’s stock market has risen to fourth place in the world by market capitalization, overtaking India. As of 17:00 on Wednesday, the market capitalization of Taiwan’s main market stood at about US$5.3 trillion, while India’s figure was US$4.94 trillion.
New index high
The benchmark Taiwan Stock Exchange Taiex index rose by 357.12 points, or 0.75%, on Wednesday, setting a new high of 48,157.29 points. Market capitalization data are published by the MarketCapWatch platform, Taipei Times reports.
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Since the beginning of the year, the Taiex has gained 19,193.69 points, or 66.27%. The publication links the growth of Taiwan’s market to the global boom in artificial intelligence development.
Global market leaders
According to MarketCapWatch, only the stock markets of the United States, at US$82.7 trillion, China, at US$21.22 trillion, and Japan, at US$8.59 trillion, have larger market capitalizations. Taiwan is followed in the ranking by the United Kingdom with US$4.86 trillion, South Korea with US$4.5 trillion, Canada with US$4.45 trillion, France with US$3.08 trillion, and Germany with US$3 trillion in market capitalization.
