TSMC’s relentless rise powers Taiwan’s market value above India - The Japan Times

Taiwan's stock market value surpassed India's in 2026, primarily driven by the remarkable performance of Taiwan Semiconductor Manufacturing Co. (TSMC), the world's largest chipmaker. According to Bloo... Read original →

TSMC’s valuation surge reflects more than AI-driven demand—it’s reshaping the semiconductor stack: 3nm and EUV capacity is being diverted from mature nodes to HPC, forcing second-tier foundries like UMC and GlobalFoundries deeper into automotive and IoT. Taiwan, China’s recent rule allowing 25% single-stock fund exposure may draw over $6B in capital but heightens systemic fragility; any escalation in U.S. export controls or regional instability could trigger disproportionate market corrections. Samsung is countering with GAA transistors and advanced packaging, while Intel pushes its IFS ecosystem to lock in NVIDIA despite manufacturing gaps. Over the next 18 months, global capital will concentrate on nodes with CoWoS and heterogeneous integration capabilities. Without building equipment redundancy beyond the U.S.-Japan-Netherlands alliance, Taiwan, China’s market leadership risks becoming high-valued yet structurally brittle.