Taiwan becomes world's 5th-biggest stock market at $4.95 trillion
Business
Taiwan just edged past India to claim the spot as the world's fifth-biggest stock market, with a market value of $4.95 trillion.
The big boost came from Taiwan Semiconductor Manufacturing Co. (TSMC), whose shares have jumped 49% this year thanks to huge demand for AI chips.
TSMC dominates Taiwan, India slips 8%
TSMC is a powerhouse, making up almost half of Taiwan's stock index and attracting billions in new investments.
Meanwhile, India's market has slipped, down 8% this year, because of foreign investors pulling out, rising energy prices, and missing out on the AI craze.
Still, India's economy itself remains much larger than Taiwan's, showing that stock rankings don't tell the whole story.