Hong Kong Stock Market Cap to GDP stands at 1,425.01% as of December 2025, up from 1,114.12% a year earlier. The reading sits in the 96th percentile of its history back to 1975.
| Latest (December 2025) | 1,425.01% |
| One year ago | 1,114.12% |
| 10-year range | 995.21% – 1,777.23% |
| All-time range | 65.40% (1983) – 1,777.23% (2020) |
| Standing | Highest since 2021 |
| Change over 5 years | −352.2 pts — bottomed at 1,043.90% in 2023 |
| Percentile vs. full history | 96th |
| History | 1975–2025 (51 observations) |
Hong Kong's total stock-market capitalization as a percentage of GDP - the per-country version of the so-called Buffett indicator. Because listed-market depth differs hugely across countries, the level only means something against Hong Kong's own history: well above its historical range suggests a rich market, well below suggests a cheap one. Annual World Bank data, so it moves slowly - which is exactly why it anchors the valuation pillar of the tailwinds score rather than trying to time anything.
<iframe src="https://www.tacticalassetallocation.com/charts/hong-kong-market-cap-gdp/embed.html" width="800" height="360" loading="lazy" style="border:1px solid #ddd;border-radius:8px"></iframe>
<a href="https://www.tacticalassetallocation.com/charts/hong-kong-market-cap-gdp/">Hong Kong Stock Market Cap to GDP — Cambria Chart Lab</a>
Data: download CSV (source: World Bank World Development Indicators).