11. Ranking of Top 20 International Stock Exchanges by Market Capitalisation as at 30 July 1997(US$ millions)


RANK     STOCK EXCHANGE     MARKET CAP

1.       New York #         8,074,854.5
2.       Tokyo              3,101,267.7
3.       Chicago #          1,999,018.7
4.       London #           1,882,869.1
5.       Nasdaq #           1,560,393.8
6.       Germany              769,849.9
7.       Paris                619,685.6
8.       Hong Kong            595,021.7
9.       Toronto              579,332.3
10.      Switzerland          532,010.7
11.      Amsterdam            479,290.0
12.      Taiwan               351,686.8
13.      Australian           333,805.2
14.      Sao Paulo            326,862.8
15.      Rio de Janeiro       319,433.8
16       Italy                288,947.9
17.      JOHANNESBURG         278,744.8
18.      Madrid               275,085.1
19.      Kuala Lumpur         275,026.7
20       Stockholm            272,798.4


# Statistics not available for July 1997, June 1997 statistics have been used

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