Hong Kong’s stock market overtakes Japan to be world’s third largest
Hong Kong’s equity market has overtaken Japan to be the world’s third largest in value, behind only the U.S. and mainland China. This is due to the rebound witnessed in Hong Kong stocks after their worst year since 2011.
Hong Kong Equity Market
Hong Kong’s market cap was $5.78 trillion as of Tuesday and Japan’s market cap was $5.76 trillion. Hong Kong’s Hang Seng Index climbed 17 per cent this year through Tuesday. The main driver behind the climb was Internet giant Tencent Holdings Ltd. which has witnessed a 22 per cent gain. Japan’s Topix Index advanced 8.3 per cent this year.
As the IMG released the World Economic Outlook April 2019 report, both markets witnessed a slowdown. The Hang Seng Index slipped 0.1 per cent and the Topix fell 0.7 per cent.
Category: Economy & Banking Current Affairs