Korea Surpasses Canada as World’s Seventh-Largest Stock Market

South Korea’s equity market has overtaken Canada’s as the world’s seventh largest, propelled by insatiable demand for chips powering artificial intelligence.

The total market capitalization of Korea-listed companies has surged 71% this year to $4.59 trillion, while Canada’s has climbed about 7% to $4.5 trillion, data compiled by Bloomberg show. Samsung Electronics Co., which recently crossed the $1 trillion valuation mark, and SK Hynix Inc. have both more than doubled this year as their dominance in the AI chip segment made their products — and stocks — highly sought after.