South Korea's stock market capitalization has surpassed that of Taiwan. Following a record high for the KOSPI, the rankings of the two countries' stock markets flipped in just one day.
According to the Korea Exchange and the Taiwan Stock Exchange, as of May 11, South Korea's stock market capitalization was recorded at 7,084 trillion won. When converted at the exchange rate of 1,472 won to the dollar, this amounts to approximately $4.81 trillion. In contrast, Taiwan's stock market capitalization was about $4.34 trillion in dollar terms.
South Korea's market capitalization is now approximately $470 billion higher than Taiwan's. Just a day earlier, on May 10, Taiwan's market capitalization was $4.72 trillion, while South Korea's was at $4.55 trillion, indicating that Taiwan had the upper hand before the rankings changed.
Market analysts attribute the rise in the KOSPI to the expansion of market capitalization. The KOSPI index recently broke the 7,800 mark for the first time, consistently setting new records. The strong performance of large-cap stocks, particularly in semiconductors and secondary batteries, has contributed to the rapid growth of South Korea's overall market capitalization.
On May 11, the KOSPI surged over 4%, closing at a historic high of 7,820. The index opened at 7,775.31, up 3.70% from the previous trading day, and at one point reached 7,899.32, nearing the 7,900 mark.
* This article has been translated by AI.
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