India Surpasses Hong Kong to Reclaim Fourth Spot in Global Equity Market.

• India’s equity market has once again outpaced Hong Kong, securing the position as the world’s fourth-largest by market capitalization. With India’s market value soaring to $5.2 trillion, bolstered by a 10% surge following a post-election market rebound, it now leads Hong Kong, which stands at $5.17 trillion after a 5.4% decline from its peak this year. This marks a significant shift in global market rankings, reflecting India’s robust economic fundamentals and investor confidence.
• Hong Kong has faced challenges including stringent COVID-19 measures, regulatory crackdowns, and geopolitical tensions, contributing to a downturn in its market sentiment. The city’s market, trading at a forward P/E of 9x and a price-to-book of 1x, reflects subdued investor confidence amidst ongoing economic uncertainties.

Published date : 15 Jun 2024 04:10PM