During hyperinflation the entire economy tanks, and the stock market will reflect that, if not worse (companies going bankrupt and you losing everything). And,

During hyperinflation the entire economy tanks, and the stock market will reflect that, if not worse (companies going bankrupt and you losing everything). And, in those countries, investing in stocks is only for the upper class in general. It's nowhere as easy as in the US, and many of them don't even have a stock market or anything similar in the first place. Closest alternative is buying precious metals like gold, but then you run into the risk of fakes, theft and difficulty of transportation.