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.
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