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The Tokyo Stock Exchange unseated the Shanghai Stock Exchange to become Asia’s biggest bourse in terms of market capitalization as of the end of January, according to the World Federation of Exchanges.
Tokyo grabbed the top spot for the first time since July 2020 when Shanghai surpassed it. The TSE is now the world’s fourth-largest market after the New York Stock Exchange, Nasdaq and Euronext.
The total market cap of companies listed on the TSE was $6.34 trillion at the end of January, up 3% from the previous month, according to the International Federation of Exchanges. Amid generally strong corporate earnings, mainly foreign investors bought shares in Japanese companies.
The market cap of the Shanghai Stock Exchange was $6.0433 trillion, down 7% from the previous month due to a slowdown of the Chinese economy.
