Taiwan hits $4.95 trillion and overtakes India driven by TSMC
Business
Taiwan just edged past India in global stock market value, hitting $4.95 trillion and grabbing the fifth spot worldwide.
This jump is mostly thanks to TSMC, the tech giant that now makes up more than 42% of Taiwan's main index.
Meanwhile, India's market slipped a bit to $4.92 trillion.
TSMC up 49% while India dips
TSMC's huge growth this year (up 49%, fueled by demand for AI chips) has been a game changer.
Taiwan even relaxed investment rules so local funds can put more money into big players like TSMC, which could bring billions into its market.
On the flip side, India's dip is tied to rising oil prices and economic pressures, though its GDP still towers over Taiwan's ($4.15 trillion to $977 billion).