Taiwan's stock market now worth more than the UK's, driven by AI chip demand

Taiwan's listed companies carry a combined valuation of roughly $4.3 trillion, surpassing the United Kingdom's equity market. South Korea's market is roughly $140 billion behind and closing fast.

TSMC makes up approximately 40% of Taiwan's entire stock market value with a market cap of approximately US$1.98 trillion. South Korea's KOSPI index has already overtaken both Germany and France this year and is up 44% in 2026, with Samsung and SK hynix accounting for nearly half the index's total weighting.

The shift reflects demand for HBM (high-bandwidth memory) far exceeding current production capacity. Taiwan's GDP is roughly $977 billion according to IMF estimates, versus the UK's $4.3 trillion—a gap that has not changed, yet their stock market valuations have reversed.