South Korea surpasses Canada to become the seventh-largest stock market in the world

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BlockBeats News, May 7 — The strong demand for chips required for artificial intelligence has propelled the South Korean stock market past Canada, making it the world’s seventh-largest stock market. Data shows that the total market value of listed companies in South Korea has surged 71% this year, reaching $4.59 trillion; meanwhile, Canada’s market value has risen by about 7% to $4.5 trillion.

Recently, Samsung Electronics and SK Hynix, both of which have broken through the $1 trillion valuation threshold, have seen their stock prices more than double this year. Backed by their leading positions in the field of AI chips, their products and stocks are highly sought after.

The Korea Composite Stock Price Index has climbed more than 70% year to date, while Canada’s benchmark stock market— the TSX Composite Index, which is mainly made up of resource and financial stocks—has only risen 7%. Ha SeokKeun, Chief Investment Officer at Eugene Asset Management, said: “Benefiting from the memory cycle driven by artificial intelligence, the market capitalization of the South Korean stock market is likely to expand further.” (Jin10)

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