With $4.3 trillion in total share value on Monday, January 22, India booming stock exchange is seen as emblematic of the country's rising economic fortunes, while Hong Kong's market has sturggled with a fourth consecutive year of losses.

With $4.3 trillion in total share value on Monday, January 22, India booming stock exchange is seen as emblematic of the country’s rising economic fortunes, while Hong Kong’s market has sturggled with a fourth consecutive year of losses.

India’s stock market has edged out Hong Kong to become the world’s fourth-largest, a milestone that underscores growing global investor optimism about New Delhi’s economic prospects, Bloomberg said on Tuesday, January 22. The total value of shares listed on Indian exchanges hit $4.3 trillion on Monday, slightly higher than Hong Kong’s $4.29 trillion, according to data compiled by Bloomberg.

The shift in the global pecking order reflects the standout market year that India has had in 2023, as higher retail investor participation, strong economic growth and increased liquidity boosted the combined value of shares listed on Indian exchanges.