Emerging market valuations are changing. South Korea and Taiwan are gaining ground on India, driven by the artificial intelligence chip sector. Their market values have seen significant growth. India's market capitalization has seen a slight decre...
By ET Bureau | Updated:
ANI
India's market cap is the third-highest among emerging markets after China and Hong Kong, and the fifth-highest in the world.
The market capitalisation hierarchy across emerging markets is shifting, with South Korea and Taiwan, buoyed by the artificial intelligence boom, closing in on regional heavyweight India.
South Korea's market value has surged 175% to $4.18 trillion, and that of Taiwan increased 85% to $4.61 trillion, driven by the AI chipmakers. In contrast, India's market capitalisation is down 5% to $4.92 trillion from the start of the year as foreign investors' risk-off sentiment has weighed down its equity market. The stock market prospects of both countries have been fueled by a handful of companies such as Taiwan Semiconductor Manufacturing Company (TSMC), the world's largest chip foundry, and South Korea's Samsung Electronics and SK Hynix. Samsung - the second Asian company to cross the $1 trillion market cap milestone, after TSMC - along with peer SK Hynix, comprises over 40% of Korea's benchmark Kospi.
India's market cap is the third-highest among emerging markets after China and Hong Kong, and the fifth-highest in the world.
