India has overtaken Taiwan to return to fifth place in worldwide market capitalization rankings. The move follows India's earlier gain over South Korea in recent weeks. Taiwan's position slipped as its AI-driven rally lost momentum.
The change reflects cooling investor sentiment toward semiconductor stocks and stretched valuations in AI-related sectors. Market participants are now questioning the pace of AI spending and its long-term effects on valuations.
India's advance comes amid broader shifts in foreign portfolio flows and domestic market performance. Taiwan's market value declined as its technology-heavy index corrected from recent highs.
These rankings are determined by the total market value of listed companies in each country. No specific timeline for further changes was provided in available reports.