Economy

Taiwan Stock Market Drops to Seventh-Largest Globally

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By TaiwanPlus

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A sharp global AI stock sell-off has pushed Taiwan's stock market down to seventh place worldwide by market capitalization. The benchmark Taiex fell about 4.5% on Friday, dropping below the 40,000-point mark after previously ranking as the world's fourth-largest market.

Title: Taiwan's Stock Market Drops to Seventh-Largest Globally

REPORTER:  
Taiwan's stock market has dropped to the world's seventh-largest in market capitalization following Friday’s global AI sell-off.

The benchmark Taiex was previously the fourth-largest in the world before it plunged roughly 4.5 percent to below 40,000 points. The sell-off follows Democratic victories in the US midterm elections which has raised concerns over potential AI data center restrictions and their impact on Taiwan's tech sector.

Taiwan’s tech-heavy index currently has a market capitalization of just over $4 trillion US dollars.

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REPORTER:  
Taiwan's stock market has dropped to the world's seventh-largest from the fourth-largest by market capitalization.

The decline comes amid a recent heavy sell-off, with the benchmark Taiex plunging below 40,000 points on Friday. The sell-off followed Democratic victories in the US midterm elections, which raised concerns over potential AI data centre restrictions and their impact on Taiwan's tech sector.

The tech-heavy Taiex so far has a market capitalisation of just over US$4 trillion.