South Korea Surpasses Canada to Become World's Seventh-Largest Stock Market

BlockBeats News, May 7th, The surging demand for chips for artificial intelligence has propelled the South Korean stock market beyond Canada, becoming the world's seventh-largest stock market. Data shows that the total market value of listed companies in South Korea has surged by 71% this year, reaching $4.59 trillion; while Canada's market value has increased by about 7% to $4.5 trillion.

In recent times, Samsung Electronics and SK Hynix, both of whom have surpassed a trillion-dollar valuation, have seen their stock prices more than double this year. Their dominant positions in the field of AI chips have made their products and stocks highly sought after.

The South Korean composite stock price index has risen by over 70% so far this year, while Canada's benchmark stock index, the Toronto Stock Exchange Composite Index, which is dominated by resource and financial stocks, has only risen by 7%. Ha SeokKeun, Chief Investment Officer of Eugene Asset Management, said, "Benefiting from the AI-led memory cycle, the market value of the South Korean stock market is likely to further expand." (Golden Finance)