Hong Kong overtakes Japan as world’s 3rd largest bourse
- The city’s equity market has overtaken Japan to be the world’s third largest in value, behind only the US and mainland China, courtesy of a rebound in Hong Kong stocks after their worst year since 2011.
- Hong Kong’s market cap was $5.78 trillion as of Tuesday, compared with $5.76 trillion for Japan, according to data compiled by Bloomberg based on where primary securities are listed.
- The Asian city’s Hang Seng Index climbed 17% this year through Tuesday when it closed at its highest since June 15.
- Internet giant Tencent Holdings has been the main driver with a 22% gain. Japan’s Topix Index advanced 8.3% in that period.
