Taiwan has overtaken India to rank as the fifth largest stock market in the world by capitalization. The change stems from a rally in artificial intelligence stocks led by semiconductor firms.
Taiwan's market capitalization now exceeds India's. The rise comes mainly from the performance of major chipmakers including Taiwan Semiconductor Manufacturing Company.
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South Korean stocks closed at a record high on May 27, driven by gains in semiconductor shares.
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.
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South Korea's stock market has surpassed India's to rank as the sixth largest globally. The change stems primarily from strong gains by major chipmakers tied to artificial intelligence demand.
Asian stocks rebounded on easing Middle East tensions and a recovery in artificial intelligence shares. South Korea's KOSPI led the gains while Wall Street also advanced.
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Asian stock markets fell sharply as the artificial intelligence driven rally lost momentum. South Korea's KOSPI index halted trading after a steep decline. Investors focused on possible Federal Reserve interest rate increases and fresh inflation figures.
Asian stocks climbed as investors favored semiconductor shares due to AI demand. Oil prices declined as energy supply disruption fears eased.
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SoftBank’s market value surpassed Toyota’s on June 1 after its shares rose 14 percent in Tokyo trading. This marks the first time in over two decades that the technology group has held the top spot among Japanese companies.