Taiwan stock market falls to global No. 7 in market cap after massive sell-off

Detailed summary

Following a recent sharp sell-off in the Taiex, the Taiwan Stock Exchange's benchmark index, the local bourse fell to seventh place globally in terms of market capitalization as of Saturday morning, according to real-time data compiled by MarketCapWatch.

Taipei, Nov. 7 (CNA) Following a recent sharp sell-off in the Taiex, the Taiwan Stock Exchange's benchmark index, the local bourse fell to seventh place globally in terms of market capitalization as of Saturday morning, according to real-time data compiled by MarketCapWatch.

The data shows that the total market capitalization of Taiwan's stock market stood at US$4.36 trillion, making it the world's seventh-largest market, down from its recent peak ranking at the fourth spot.

The United States ranked first globally, with a market capitalization of US$78.43 trillion, followed by China (US$19.48 trillion), Japan (US$7.81 trillion), India (US$5.1 trillion), the United Kingdom (US$4.7 trillion) and Canada (US$4.38 trillion).

According to MarketCapWatch, Taiwan Semiconductor Manufacturing Co. (TSMC), the world's largest contract chipmaker, ranked seventh among the world's largest listed…

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