Top 50 APAC Firms’ Mcap Soars 20% To Record $8.1 Trn
India was third (after China and Japan) with seven companies accounting for $914 bn, said GlobalData
Top 50 APAC Firms’ Mcap Soars 20% To Record $8.1 Trn
New Delhi: Led by technology companies, the total market capitalisation of top 50 firms in the Asia-Pacific (APAC) region surged to $8.1 trillion in 2024, reflecting a 20.6 per cent year-on-year increase, according to a new report. Geographically, India was third (after China and Japan) with seven companies accounting for $914 billion, according to the report by GlobalData.
The equity markets in the country soared to record highs last year, firmly establishing the nation with a market capitalisation of $5.29 trillion this year, which was the fourth largest market cap globally after the US, China and Japan. Benchmark indices Nifty and Sensex hit all-time highs of 26,277.35 and 85,978.25, respectively, last year.
“APAC markets ended 2024 on a cautious note as optimism for the new year diminished amid the rising trade risks from Donald Trump’s presidency and China’s faltering economic recovery,” said Murthy Grandhi, company profiles analyst at GlobalData.
Taiwan Semiconductor Manufacturing Company (TSMC) retains its position as APAC’s largest company, boasting a remarkable market cap of $850.3 billion, a 69.7 per cent year-on-year (YoY) growth.
