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

Deep Tide TechFlow news. On May 07, strong demand for chips required for artificial intelligence helped the South Korean stock market surpass Canada, making it the world’s seventh-largest stock market. Data shows that the total market capitalization of listed South Korean companies has surged 71% this year to $4.59 trillion, while Canada’s market cap has risen by about 7% to $4.5 trillion. With Samsung Electronics and SK Hynix—both of which have recently broken the $1 trillion valuation threshold—seeing their share prices double or more this year, their leading position in the field of AI chips has made their products and stocks highly sought after.

So far this year, the Korea Composite Stock Price Index has risen more than 70%, while the Canadian benchmark stock market—dominated by resource and financial stocks—the Toronto Stock Exchange Composite Index has gained only 7%. Eugene Asset Management’s Chief Investment Officer Ha SeokKeun 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)