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On May 26th, propelled by a sharp surge in Taiwan Semiconductor Manufacturing Company (TSMC)’s stock price, Taiwan (China)’s total stock market value overtook that of India. By Monday, Taiwan’s market capitalization had reached US$4.95 trillion, surpassing India’s, which had fallen to US$4.92 trillion. TSMC, which constitutes over 42% of Taiwan’s benchmark stock index, has seen its share price climb 49% year-to-date, buoyed by its leading role in the AI chip sector. This rise in Taiwan’s market value stands in contrast to India’s decline, underscoring two key global trends: the conflict involving Iran has driven up oil prices, weighing on energy-importing nations, while the AI boom has sparked a rally in tech stocks, particularly benefiting manufacturing hubs like Taiwan.
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