The Indian  stock market  surpassed  Hong  Kong  for the first  time to rank fourth in the world,  Bloomberg reported. 

 According to data compiled by Bloomberg, the aggregate  value of  stocks  listed on Indian exchanges reached $4.33 trillion as of  Monday’s  close,  compared with Hong Kong’s  $4.29  trillion. 

  India’s  market capitalization  crossed $4 trillion for the first time on December 5. The  Indian stock  market’s recovery has come  on the back of a rapidly growing retail investor base,  Foreign  institutional  investor (FII) capital is maintained, corporate profits are  strong  and  earnings  are high. national  macroeconomic  foundation.  

  Additionally,  India has positioned itself as an alternative to China, attracting  new  capital from  investors and  businesses around the world,  thanks to its stable  politics  and  consumption-driven  economy. ,  remains  one of  the fastest-growing  major  countries,  Bloomberg reported.  By contrast, markets collapsed in  Hong  Kong,  where some of  China’s  most  innovative and  influential  companies are listed. The  combined  market value of Chinese and Hong Kong stocks has  fallen  by more than $6 trillion since their  2021 peak.  

  Bloomberg’s report adds that Beijing’s tough Covid-19 restrictions, strict management measures  on  businesses,  crisis  in the real estate sector  and geopolitical tensions with the  West, all  have  eroded China’s  appeal as  a global  growth  engine.  

 The Asian financial hub is losing its status as one of the  world’s  busiest  initial public  offering  (IPO)  locations  as new listings  dry  up in Hong Kong. 

  Foreign  funds  invested  more than $21 billion  in  Indian  stocks  in 2023, helping the  country’s  benchmark S&P BSE Sensex  index post  an eighth  straight  year of gains. 

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