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India's market cap now just a whisker away from toppling Hong Kong's

A significant portion of Hong Kong's market cap is due to companies from Mainland China choosing to list in the city

Hong kong Stock exchange
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Photo: Bloomberg

Samie Modak

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The gap between market capitalisation of Hong Kong and India has dwindled significantly. At present, India’s market cap stands at approximately $4.3 trillion, while Hong Kong's is around $4.7 trillion.
 
In the depths of the Covid-19 crisis in March 2020, Hong Kong's market cap, at $4.6 trillion, was 3.44 times larger than India's. On March 24, 2020, India's market cap plummeted to a low of $1.33 trillion but since then, it has surged 3.5 times, positioning India as one of the best-performing markets globally in the post-pandemic era.
 
A significant portion of Hong Kong's market cap is due to companies