Agra Investment：India surpass Hong Kong to become the seventh largest stock market in the world

[Youcai News]-As people are becoming more and more optimistic about India's economic prospects, the market value of the Indian stock market has surpassed Hong Kong and has become the seventh largest stock market in the world.Agra Investment

Data from the World Federation of Exchanges show that as of the end of November, the total market value of the National Stock Exchange of India was US $ 398.9 trillion, and the total market value of Hong Kong was US $ 39,88 trillionEssenceLucknow Stock

The Indian Nifty 50 Index hit a new high on Monday.So far this year, the index has risen by nearly 16%and will rise for the eighth consecutive year.In contrast, the Hang Seng Index of the Hong Kong benchmark has fallen 18%so far this year.Jaipur Stock

India is a prominent market in the Asia -Pacific region this year.The increase in liquidity, increased domestic participation, and the decline in US Treasury yields, etc., have boosted the Indian stock market.

The country with the largest population in this world will also hold a general election next year.Analysts predict that the ruling nationalist party's Bharatiya Janata Party may win again in the election.

HSBC (HSBC) strategist stated in a customer report: "As far as the election is concerned, public opinion surveys and the recent state elections show that the current government led by the Indian People's Party may win a decisive victory, which may be in the first three to four next year.A round of a bull market is caused because the market's expected policy will remain continuous. "

HSBC said that banks, healthcare and energy are the most favorable sectors next year.Kanpur Stock

Industries such as automobiles, retail, real estate, and telecommunications are relatively beneficial to 2024, while fast consumer goods, public utilities and chemical industries are listed as an unfavorable industry in HSBC.New Delhi Wealth Management

The Hong Kong Hang Seng Index is about to fall for the fourth consecutive year, which is the worst performance in the major Asia -Pacific stock market.

Last week, Moody ’s lowered the rating outlook for Hong Kong from stability to negative, because Hong Kong and the mainland of India in financial, politics, systems, and economy.Not long ago, Moody's outlook for India's credit rating was reduced from stability to negative.

In early November, the Hong Kong government stated that the Hong Kong economy is expected to increase by 3.2%in 2023, and the expected GDP growth is expected to be reduced from 4%to 5%forecast in August.

The Hong Kong government warns that the intensified geopolitical tensions and tension financial environment continue to put pressure on investment, commodity exports and consumer emotions.Consumer confidence in Hong Kong is also affected.

The economist of DBS (DBS) said: "As the actual GDP growth rate of the year slowed from 3.5%in 2023 to about 2%, the Hong Kong economy is expected to be soft landing in 2024."

"The core of economic recovery is the recovery of the tourism industry in the Mainland, and the retail and catering industry will be strengthened."

India sets a 5%growth target for 2023.In the third quarter of India, GDP reached 4.9%, allowing people to reach or even hope that the world's second largest economy would reach.

Mumbai Wealth Management