AI boom reshuffles global stock market pecking order as South Korea and Taiwan surge

Key points

• The Wall Street bull stands in the financial district near the New York Stock Exchange on Nov.
• 18, 2025 in New York City.
• Spencer Platt | Getty Images A global reshuffling in stock-market hierarchy is underway, with artificial intelligence redrawing the pecking order of equity markets and propelling Taiwan and South Korea past several long-established Western bourses.
• Taiwan has overtaken Canada to become the world's sixth-largest stock market, while South Korea has leapfrogged the U.K.
• into eighth place, according to HSBC data tracking global equity-market capitalization rankings.