🔴The entire South Korean and Taiwanese stock market rally rests on just 3 companies:

Samsung Electronics and SK Hynix together reflect ~55% of South Korea's Kospi index.

Both companies recently crossed trillion-dollar valuations and dominate the production of memory chips used in AI computations and data storage.

Meanwhile, TSMC alone accounts for ~42% of Taiwan's Taiex index.

TSMC is the world's 7th most valuable company, with a market capitalization of over $2.2 trillion, larger than Tesla or Meta.

TSMC also accounted for more than 90% of revenue in the most advanced chipmaking segment last year, according to Counterpoint Research.

To put this into perspective, the Magnificent 7 collectively account for only ~33% of the S&P 500.

This is INSANE.