India overtakes Hong Kong as world’s fourth-largest stock market by market capitalisation
- IBEF
- January 23, 2024
India's stock market has surged ahead of Hong Kong, claiming the fourth spot globally in equity market size, with a combined value of US$ 4.33 trillion, surpassing Hong Kong's US$ 4.29 trillion, as of January 22, 2024. This milestone reflects India's robust market performance driven by a growing retail investor base, steady foreign institutional investments, strong corporate earnings, and solid domestic macroeconomic fundamentals.
The country's stability and consumption-driven economy position it as an attractive alternative to China, drawing increased global capital. In contrast, Hong Kong's markets have declined, impacted by challenges including China's regulatory crackdowns, anti-COVID-19 measures, property-sector crises, and geopolitical tensions. The total market value of Chinese and Hong Kong stocks has contracted by over US$ 6 trillion since their 2021 peaks.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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