2023-12-12 22:03:13
The market capitalization of Indian stocks has surpassed that of Hong Kong stocks to become the seventh largest market in the world as optimism grows regarding the country’s economic prospects.
At the end of November, the total market value of the Indian National Stock Exchange reached $3.989 trillion, compared to $3.984 trillion in Hong Kong, according to CNBC, citing data from the World Federation of Stock Exchanges.
Strong activity
It has reached another record level, and has jumped by 16% so far this year, and is heading for gains for the eighth year in a row. In contrast, the Hang Seng Index in Hong Kong has fallen by 17% since the beginning of the year so far.
India has achieved strong activity during the recent period. India was a prominent market this year in the Asia-Pacific region. Increased liquidity, increased local participation, and improved dynamics in the global macro environment in the form of lower US Treasury bond yields, are all factors that have strengthened the country’s stock markets.
Indicators and forecasts
HSBC said banking, healthcare and energy are the best-positioned sectors for next year, and sectors such as automobiles, retailers, real estate and telecoms are relatively well-placed for 2024, while fast-moving consumer goods, utilities and chemicals are among those that HSBC has rated as… Unfavorable.
As for the Hang Seng Index in Hong Kong, the company is preparing to record a fourth year of declines and is the worst performing stock market among the major stock markets in the Asia-Pacific region.
Last week, Moody’s lowered its outlook for Hong Kong from stable to negative, citing the city’s financial, political, institutional and economic ties with mainland China. This downgrade came shortly following Moody’s lowered its outlook for the Chinese government’s credit ratings from negative to stable.
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