India China Hong Kong heavyweights lose market share amid AI
India, China, and Hong Kong's biggest companies are losing some of their market power, with their share of total stock market value dropping this year.
The main reason? They're lagging behind in the AI boom.
Now, these top firms make up about 19% of the market capitalization (down from 26% for China and 22% for India last year), while Hong Kong slipped slightly to just under 10%.
Taiwan South Korea surge on AI
Meanwhile, Taiwan and South Korea are crushing it thanks to their AI-focused giants.
Taiwan's TSMC helped push its stock index up by a massive 54%, while South Korea's Kospi nearly doubled with help from SK Hynix and Samsung Electronics.
India's Nifty 50 actually fell by 8%, as older industry leaders struggled to keep pace in a world quickly being reshaped by AI.
China diversifies toward newer AI players
China isn't out of the game: it's seeing some growth by spreading bets across newer tech players like Cambricon Technologies and Yangtze Optical Fibre & Cable Joint Stock Ltd.
This shift toward more diverse, AI-adjacent sectors has kept its markets moving forward even without one clear leader in the space.