TechFlow News, May 7: Surging demand for chips required by artificial intelligence has propelled the South Korean stock market ahead of Canada’s to become the world’s seventh-largest stock market. Data shows that the total market capitalization of South Korean listed companies has surged 71% this year, reaching $4.59 trillion; Canada’s market capitalization rose approximately 7% to $4.5 trillion. Samsung Electronics and SK Hynix—both recently surpassing the $1 trillion valuation milestone—have seen their share prices more than double this year, driven by their dominant positions in the AI chip sector, making both their products and stocks highly sought after.
The Korea Composite Stock Price Index (KOSPI) has risen over 70% year-to-date, while Canada’s benchmark index—the Toronto Stock Exchange Composite Index, dominated by resource and financial stocks—has risen only 7%. Ha Seok-keun, Chief Investment Officer at Eugene Asset Management, stated: “Benefiting from the memory cycle led by artificial intelligence, the market capitalization of the South Korean stock market is likely to expand further.” (Jinshi)
