TSMC Surge Propels Taiwan Stock Market to 5th Globally, Surpassing India

According to Bloomberg, Taiwan's stock market capitalization has overtaken India's, largely thanks to the stunning rally of the world's largest chipmaker, Taiwan Semiconductor Manufacturing Company (TSMC). As of today, Taiwan's market cap has climbed to $4.95 trillion, while India's has fallen to $4.92 trillion. Taiwan is now the 5th largest market globally, trailing only the US, China, Japan, and Hong Kong. The rise is driven by TSMC, which accounts for over 42% of the index weight. Benefiting from the AI trading frenzy, the chip giant's stock has surged 49% this year. This contrasts with India's decline, highlighting two main themes shaping 2026: oil price spikes due to the US-Iran conflict hurting energy-importing nations, and AI optimism benefiting manufacturing hubs like Taiwan.