From Bloomberg via The Edge, Singapore, April 16:
Taiwan market cap tops US$4 tril on AI boom, overtaking UK
Taiwan overtook the UK in stock market value as the island’s tech firms regained favour amid hopes for further de-escalation in the Iran war.
Taiwan’s market capitalisation rose to US$4.14 trillion as of Wednesday, making it the world’s seventh largest, according to data compiled by Bloomberg that show the combined value of companies with a primary listing on the island. The UK’s market was valued at around US$4.09 trillion.
The feat comes after the Taiex Index recouped all losses driven by the Iran war — one of the first major markets to do so — to reach a record high. Heavyweight Taiwan Semiconductor Manufacturing Co (TSMC) also renewed its all-time high, buoyed by strong revenue growth that underscores its key role in the global artificial intelligence supply chain.
“Taiwan continues to be treated as an AI hardware proxy,” said Yoon Ng, head of Apac asset management growth solutions at Broadridge Financial Solutions. “As long as AI capex momentum holds, flows should remain supportive.”...
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