South Korea overtakes India as 6th-largest stock market

South Korea overtakes India as 6th-largest stock market

South Korea's stock market has overtaken India's to become the world's sixth largest.

The change comes on the back of a stellar performance by chip giants Samsung Electronics and SK Hynix, which are key players in the global artificial intelligence (AI) boom.

According to Bloomberg data, the total market capitalization of Korea-listed companies has jumped 86% this year to $5 trillion, while India's has fallen to $4.8 trillion.

Samsung, SK Hynix drive Korea's equity surge

Samsung Electronics and SK Hynix, both recently valued at over $1 trillion, have been instrumental in Korea's equity surge.

Their dominance in AI memory chips has propelled the Kospi index's gains this year to over 100%.

This massive jump has helped South Korea surpass Canada, Germany, the UK, and France in market value this year.

India remains one of fastest-growing economies

Despite the fall in market value, India's economy remains one of the fastest-growing in the world with a GDP of $4.15 trillion.

This is still much higher than South Korea's $1.93 trillion GDP, as per International Monetary Fund estimates.

However, India's stock market has been affected by a weakening rupee, record foreign outflows, and a lack of companies directly linked to AI infrastructure.