India overtakes Hong Kong for the first time as the fourth largest stock market in the world due both to China's economic difficulties which have hindered the development of the former British colony's stock exchanges and to the growth prospects and political reforms promoted by New Delhi which have made the country one of the favorite destinations for international investors.
According to data compiled by Bloomberg, the overall capitalization of the Indian stock exchanges reached 4,330 billion dollars at Monday's closing against 4,290 billion in Hong Kong, after having crossed the 4,000 mark just on December 5, 2023.
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