AI boom has pushed Taiwan into the world’s top seven stock markets, helping it overtake the UK
Taiwan’s stock market has overtaken Britain’s to become the seventh largest in the world in terms of market capitalization. The total value of the Taiwanese market as of Wednesday had grown to $4.14 trillion, while the British market was valued at about $4.09 trillion. This was reported by Bloomberg.
Taiwan’s growth is associated with new demand for shares of the island’s technology companies. Investors are increasingly investing in the sector as Taiwanese manufacturers play a key role in supplying components for artificial intelligence systems.
One of the main drivers has been Taiwan Semiconductor Manufacturing Co. TSMC accounts for more than 40% of the local stock market. The company’s shares have hit an all-time high again after strong revenue growth. The company is benefiting from strong demand for chips used in artificial intelligence. This increases investor interest not only in TSMC itself, but also in the entire Taiwanese stock market.
During a briefing in Taipei, TSMC representatives reported that this year they expect sales growth in dollar terms of more than 30%.
In addition, the market was supported by expectations of further de-escalation of the war with Iran. The Taiex index was one of the first among major stock markets to fully recover the losses caused by this conflict and set a new record.
