Taiwan Overtakes India to Become World’s Fifth-Largest Stock Market

Taiwan’s stock market has surpassed India’s in market capitalization, becoming the world’s fifth-largest equity market with a valuation of $4.95 trillion.

The advance has been driven by the strength of Taiwan’s semiconductor industry, especially Taiwan Semiconductor Manufacturing Company. TSMC accounts for about 42% of the benchmark index, making its performance central to the broader market’s rise.

TSMC shares have rallied 49% this year as global demand for artificial intelligence semiconductors has surged. The company’s gains have helped lift the broader technology-heavy market and turned Taiwan into one of the leading beneficiaries of the AI investment boom.

The milestone highlights the degree to which semiconductor supply chains and AI-related demand are reshaping global equity market rankings, with Taiwan’s market capitalization now placing it ahead of India.