Mainland Markets Move Pass Hong Kong
Aggregated Source: China ChallengesThe Standard reports:
The buoyant China stock market has become the world's sixth largest - displacing Hong Kong - after mainland shares extended their spectacular gains in the past month.
The combined market capitalization of the Shanghai and Shenzhen bourses, including A shares and B shares, reached 13.95 trillion yuan (HK$14.106 trillion) Tuesday after the Shanghai Composite Index and the Shenzhen Composite Index surged 28.74 percent and 66.85 percent year-to-date, respectively.
After the benchmark Hang Seng Index jumped another 138 points Tuesday, Hong Kong's bourse had market capitalization of HK$13.9666 trillion.
China's 56 percent leap in market cap from 8.94 trillion yuan at year-end 2006 to Tuesday's 13.95 trillion yuan knocked the SAR from sixth to seventh in global stock market rankings.
To read more:
http://thestandard.com.hk/news_detail.asp?pp_cat=2&art_id=42027&sid=13080100&con_type=3
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