Hong Kong’s market capitalisation (mcap) has surpassed India’s, driven by a strong rebound in Chinese equities fuelled by Beijing’s sweeping stimulus measures. Hong Kong’s mcap briefly exceeded $6 trillion this week, after a 25 per cent surge from September’s low of $4.75 trillion.
Meanwhile, India’s mcap, which reached a record $5.71 trillion on Thursday, has since dropped below $5.5 trillion amid a near 5 per cent drop in benchmark indices from their peak. This shift reverses the mid-September advantage India held, with its market cap 17 per cent higher than Hong Kong’s. Now, Hong Kong’s market cap exceeds India’s by 8 per cent.
Hong Kong’s market, heavily influenced by listed Chinese stocks, has gained significantly since China’s central government increased economic support. India initially overtook Hong Kong’s market cap in January, claiming the fourth-largest global market title.
First Published: Oct 04 2024 | 11:16 PM IST
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