Bloomberg News reported on Wednesday, April 29, that Taiwan’s stock market has overtaken Canada’s in market capitalization to become the world’s sixth-largest. Strong demand for AI-related stocks and the sharp rise in TSMC share price were the key drivers of growth.

Bloomberg data shows the total market capitalization of Taiwan’s listed companies has gone up by more than 35% this year, reaching US$4.47 trillion. In contrast, Canada’s total market capitalization has gone  up by only around 5% to US$4.44 trillion. TSMC, which accounts for nearly 45% of the Taiwan Stock Exchange’s total value, has seen its market capitalization swell to US$1.8 trillion.