Stocks in China and Hong Kong sold off a massive $4.8 trillion in market capitalization since 2021, which according to HSBC, is more than the value of the Indian stock market.
The statistic does not bode well for either China or Hong Kong, especially when the National Stock Exchange of India has only grown during the same period.
The NSE overtook Hong Kong Stock Exchanges and Clearing to become the fourth largest in the world in January, according to data from the World Federation of Exchanges, and is worth $4.63 trillion, making it the third largest in Asia.
This is indicative of how much traction Indian stocks have gained in the last few years, in contrast to declines in both China and Hong Kong.
Hong Kong's Hang Seng index performed even worse, with 2023 as its fourth consecutive decline ending the year 13.8% lower.
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Organizations:
Bombay Stock Exchange, HSBC, National Stock Exchange of, Hong Kong Stock Exchanges, World Federation of Exchanges, Hong Kong . Mainland China's CSI
Locations:
MUMBAI, MAHARASHTRA, INDIA, Bombay, Mumbai, Stocks, China, Hong Kong, National Stock Exchange of India, Asia, Hong Kong . Mainland