HKEx climbs notch higher in world rankings

PUBLISHED : Friday, 21 December, 2001, 12:00am
UPDATED : Friday, 21 December, 2001, 12:00am

Hong Kong Exchanges and Clearing now ranks No 9 in the world's largest stock markets by capitalisation, up from No 10 last year.

The exchange's rise comes despite an 18 per cent year-on-year drop in capitalisation to HK$3.89 trillion as of December 14.

The rise is mainly due to the merger of the Amsterdam, Brussels and Paris stock exchanges to form Euronext in September.

Last year, Paris was the fourth-largest market, while Amsterdam was No 9. Euronext came in fourth place this year.

The merger knocked Amsterdam from the ranking, helping Hong Kong move up a place.

Hong Kong is still a long way from the Government's plan to turn it into one of the world's five largest exchanges.

To reach the Government's goal, Hong Kong needs to double its market capitalisation to pass the world's fifth largest market - the German stock exchange.

Graphic: ex21gbz