The gap between market capitalisation of Hong Kong and India has dwindled significantly.
At present, India s market cap stands at approximately $4.3 trillion, while Hong Kong s is around $4.7 trillion.
In the depths of the Covid-19 crisis in March 2020, Hong Kong s market cap, at $4.6 trillion, was 3.44 times larger than India s.
The US market has been a standout performer this year, with the benchmark Standard and Poor s 500 (or simply the S&P 500) gaining over 16 per cent during the first half of calendar year 2023 (CY23) in what was its best first-half show since 2019.
By comparison, India s National Stock Exchange Nifty 500 has gained 6.4 per cent.
On the surface, it appears that the US markets have done exceedingly well. However, a deeper analysis reveals the gains in the domestic market to be more well-spread.
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