South Korea’s equity market has overtaken Canada’s as the world’s seventh largest, propelled by insatiable demand for chips powering artificial intelligence.
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The total market capitalization of
Korea-listed companies has surged 71 per cent this year to US$4.59 trillion, while Canada’s has climbed about seven per cent to US$4.5 trillion, data compiled by Bloomberg show.
Samsung Electronics Co., which recently crossed the US$1 trillion valuation mark, and
SK Hynix Inc. have both more than doubled this year as their dominance in the AI chip segment made their products — and stocks — highly sought after. The
Kospi gauge has added more than 70 per cent so far this year, while Canada’s resource and finance-heavy equity benchmark
S&P/TSX Composite Index has risen just seven per cent.
