Brief by Shorts91 Newsdesk / 11:08am on 23 Jan 2024,Tuesday Business
India has overtaken Hong Kong to claim the position of the fourth-largest global stock market, reporting a market capitalization of $4.33 trillion compared to Hong Kong's $4.29 trillion, according to Bloomberg data. Achieving the $4 trillion milestone on December 5, 2023, India's stock market has seen substantial growth in the past four years. The top three positions remain occupied by the US, China, and Japan. Factors contributing to India's rise include firm GDP growth forecasts, manageable inflation, political stability, and increased foreign portfolio investment. Hong Kong, facing challenges like anti-COVID-19 measures and regulatory crackdowns, experiences a historic slump.
