Taiwan Market Cap Crosses $5.3 Trillion, Ranks 4th Globally

Taiwan’s stock market capitalisation has crossed $5.3 trillion, moving ahead of India, the UK and South Korea for the first time and placing Taiwan fourth among global equity markets. The Taiwan Stock Exchange’s benchmark index, the TAIEX, hit an intraday record of 48,601.53 on 22 September 2026 before closing at 47,800.17.

The rally continued into 23 September, when the index touched 48,341.56 in early trading. At 11:12 am Taipei time, the TAIEX was up 322.25 points, or 0.67%, at 48,122.42. Taiwan Semiconductor Manufacturing Co. (TSMC), one of the market’s largest-weighted stocks, also climbed to NT$2,505 intraday, supporting the broader market.

How Has Taiwan Moved Up The Global Rankings?

According to the data, Taiwan ranks behind only the US, China, and Japan in total stock market capitalisation. India is now fifth, while South Korea ranks seventh.

The gap between Taiwan and South Korea has widened to around $750 billion, equivalent to about 16% of South Korea’s total market capitalisation. The UK’s market capitalisation stands at around $4.88 trillion, while South Korea’s is approximately $4.55 trillion.

Taiwan’s market has also gained 3.62% in September so far. The rise in the TAIEX has coincided with an increase in the total value of listed companies. Market data showed Taiwan’s listed market capitalisation at NT$156.34 trillion at the close on 22 September.

What Is Driving The Taiwan Market Rally?

Large-cap technology stocks have been central to the recent rally. TSMC opened at NT$2,475 on 23 September and reached NT$2,505 intraday. At 11:12 am Taipei time, the stock was up NT$35, or 1.42%, at NT$2,495.

TSMC’s weight in the Taiwan market is significant. The company accounted for more than 40% of the market’s total value, according to Focus Taiwan, highlighting the influence that large semiconductor stocks can have on the broader market.

The TAIEX had closed at 47,800.17 on 22 September after reaching its record intraday level of 48,601.53. Turnover stood at around NT$1.02 trillion on the Taiwan Stock Exchange.

The index then opened at 47,894.77 on 23 September and moved as high as 48,341.56 during early trading.

How Is Taiwan’s Market Mix Changing?

The sectors driving Taiwan’s stock market have shifted over the past few years. From 2020 to 2022, stocks linked to display panels, IC substrates and shipping were among those that attracted significant market attention.

The focus changed in 2023 and 2024, when AI infrastructure became more prominent. Server, application-specific integrated circuit (ASIC) and thermal cooling companies saw their market capitalisations increase during this period.

Since 2025, the rotation has broadened to printed circuit boards (PCBs), memory and testing stocks as AI demand has expanded across the technology supply chain. Capital Investment Trust’s active Taiwan ETF research team said 2025 was one of the years with the highest trading turnover among Taiwan’s top 50 companies by market capitalisation in nearly a decade.

This industry rotation has changed the composition of Taiwan’s leading listed companies, with different sectors taking turns driving market-cap growth. The shift also shows how AI-related demand has spread beyond semiconductor manufacturing to a wider group of technology businesses.

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