Hong Kong surpasses India in market cap as Chinese equities rebound | News on Markets

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. 

 

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However, the two nations have since alternated in this position. Between June and September India remained ahead, only ceding fourth place to Hong Kong this week. In Septe­mber, India had overtaken China in the MSCI All Country World Investable Market Index and MSCI Emerging Market IMI index. However, China is likely to wrestle back its position in October after the latest surge.