The recent rise of the Indian stock market allows Hong Kong to take its place among Asia’s largest stock exchanges. writes about this Finance Times.
The total capital of Indian companies reached $3.7 trillion in October, approaching Hong Kong’s $3.9 trillion. India’s leading stock indices National Stock Exchange of India (NSE) and Bombay Stock Exchange (BSE) rose 8-9% in November, while Hong Kong’s Hang Seng index fell 6.7% amid a slowing Chinese economy. Experts point out that the trends in the Indian and Chinese markets have differed in recent years.
The key factors in the attractiveness of the Indian market are high economic growth rates and consumption levels. By 2030, India’s GDP is expected to double to $7 trillion, the publication said. Infrastructure and real estate investments are also increasing.
To consolidate its position among Asia’s financial centres, India will need to implement policies to encourage entrepreneurship and investment. Meanwhile, the newspaper writes that Indian sites are significantly behind Hong Kong and Shanghai in terms of trade volumes.
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