Hong Kong's market capitalisation is over $5.4 trillion, more than 13 times that of Indonesia and four times the size of Singapore's, Secretary for Financial Services & the Treasury Frederick Ma says.

According to the Federation of World Exchanges' latest figures, Indonesia has a stock market capitalisation of over $410 billion, with Singapore at $1.19 trillion.

In his latest online column FSTB & You, published today, Mr Ma said Hong Kong's stock market ranks among the 10 largest in the world. In the first five months of this year, stocks average daily turnover amounted to over $17.7 billion.

He noted many Mainland enterprises have sought to raise capital via a Hong Kong listing, thanks to the various advantages the city enjoys, such as the financial infrastructure and the close links to the Motherland.

"Mainland enterprises account for about 30% of our market capitalisation. It is expected that the number of Mainland enterprises coming to list here will continue to increase. This gives us a distinct edge in the further development of our financial market," he said.

The inclusion of nine more cities in the Individual Visit Scheme from July 1 will also be conducive to Hong Kong's tourism and economic development, he added.