India Overtakes Hong Kong To Become The Fourth Largest Stock Market In The World

India’s stock market has pipped Hong Kong for the first time. The combined value of shares listed on Indian exchanges hit $4.33 trillion as of Monday’s close, against $4.29 trillion for Hong Kong, making India the fourth-biggest equity market globally. Its stock market capitalization crossed $4 trillion for the first time on December 5, with about half of that coming in the past four years. Hong Kong's slump is also due to an eroding China appeal. Some of China’s most influential and innovative firms are listed in Hong Kong. Beijing’s stringent anti-Covid-19 curbs, regulatory crackdowns on corporations, a property-sector crisis and geopolitical tensions with the West have hit Chinese stocks hard.