Taiwan's stock market surpasses Canada to become the world's sixth largest, driven by surging artificial intelligence demand and TSMC's explosive growth.

Taiwan's stock market surpasses Canada to become the world's sixth largest, driven by surging artificial intelligence demand and TSMC's explosive growth. Taiwan's market capitalization jumped over 35% this year to $4.47 trillion, edging out Canada's $4.44 trillion. TSMC, accounting for nearly 45% of Taiwan's benchmark index, has reached a $1.8 trillion valuation. The chipmaker reported record first-quarter earnings with net income rising 58% year-on-year, while revenue climbed 35%. Taiwan's technology-focused market has benefited significantly from global semiconductor demand, whereas Canada's resource and financial-heavy portfolio faced headwinds from commodity fluctuations and slower economic growth. Regulatory changes allowing domestic funds to allocate up to 25% of assets to single stocks have further supported TSMC shares.