India just lost to Taiwan because of just one company

India just lost its spot as the world’s 5th largest stock market — and one company played an outsized role in the shift.Powered by a sharp AI-led tech rally, Taiwan’s market capitalisation surged to nearly $4.95 trillion, overtaking India’s $4.92 trillion, according to Bloomberg data. The biggest driver? Taiwan Semiconductor Manufacturing Company (TSMC), the chip giant at the centre of the global AI boom.Taiwan now joins the US, mainland China, Japan and Hong Kong as the world’s five largest equity markets