Taiwan Overtakes Canada as World's Sixth-Largest Stock Market

Taiwan's equity market has overtaken Canada's to become the world's sixth largest, driven by strong demand for artificial intelligence-linked shares and the rapid rise of chip giant Taiwan Semiconductor Manufacturing Co.

The total market capitalization of Taiwan-listed companies has surged more than 35% this year to $4.47 trillion, while Canada's has climbed about 5% to $4.44 trillion, data compiled by Bloomberg show. TSMC, which makes up nearly 45% of the local equity benchmark, has seen its market value swell to $1.8 trillion during the period.

The crossover shows how index composition is shaping national equity fortunes. Taiwan's tech-heavy market has ridden a wave of global craze for semiconductors and AI, while Canada's resource- and finance-driven benchmark has delivered more modest returns amid volatile commodity prices and moderating economic growth.

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