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Hong Kong (HSI) Market Analysis & Valuation

UpdatedMar 19, 2024
DataAggregated Company Financials
Companies2308
  • 7D1.0%
  • 3M5.0%
  • 1Y-10.2%
  • YTD3.0%

Over the last 7 days, the market has risen 1.0%, driven by gains of 4.4% in the Consumer Discretionary sector. Over the past year the market is down 10%. Looking forward, earnings are forecast to grow by 12% annually.

Market Valuation and Performance

Has the Hong Kong Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 19 Mar 2024HK$38.6tHK$43.8tHK$3.5t8.9x11.1x0.9x
Thu, 15 Feb 2024HK$36.4tHK$43.6tHK$3.3t8.6x10.9x0.8x
Sat, 13 Jan 2024HK$37.2tHK$45.6tHK$3.5t9.1x10.7x0.8x
Mon, 11 Dec 2023HK$37.1tHK$45.8tHK$3.5t8.9x10.7x0.8x
Wed, 08 Nov 2023HK$38.6tHK$45.2tHK$3.4t9x11.2x0.9x
Fri, 06 Oct 2023HK$39.4tHK$45.0tHK$3.4t9x11.5x0.9x
Sun, 03 Sep 2023HK$40.2tHK$45.4tHK$3.5t9.3x11.6x0.9x
Tue, 01 Aug 2023HK$43.2tHK$45.9tHK$3.7t9.8x11.8x0.9x
Thu, 29 Jun 2023HK$41.5tHK$45.7tHK$3.6t9.7x11.4x0.9x
Sat, 27 May 2023HK$41.9tHK$46.6tHK$3.7t9.5x11.2x0.9x
Mon, 24 Apr 2023HK$44.3tHK$47.5tHK$3.8t9.9x11.7x0.9x
Wed, 22 Mar 2023HK$42.6tHK$47.5tHK$4.1t8.8x10.4x0.9x
Fri, 17 Feb 2023HK$43.9tHK$47.7tHK$4.3t9x10.3x0.9x
Sun, 15 Jan 2023HK$44.9tHK$48.4tHK$4.3t8.9x10.4x0.9x
Tue, 13 Dec 2022HK$41.7tHK$46.7tHK$4.2t8.9x10x0.9x
Thu, 10 Nov 2022HK$36.0tHK$45.5tHK$4.0t8x8.9x0.8x
Sat, 08 Oct 2022HK$38.0tHK$45.6tHK$4.0t8.4x9.4x0.8x
Mon, 05 Sep 2022HK$41.0tHK$46.7tHK$4.2t9.1x9.9x0.9x
Wed, 03 Aug 2022HK$41.2tHK$46.7tHK$4.3t8.7x9.5x0.9x
Fri, 01 Jul 2022HK$45.5tHK$47.1tHK$4.4t9.3x10.4x1x
Sun, 29 May 2022HK$43.8tHK$47.0tHK$4.4t8.8x10x0.9x
Tue, 26 Apr 2022HK$42.6tHK$47.4tHK$4.4t8.9x9.7x0.9x
Thu, 24 Mar 2022HK$45.8tHK$46.9tHK$4.5t8.6x10.2x1x
Sat, 19 Feb 2022HK$50.4tHK$46.4tHK$4.5t9x11.3x1.1x
Mon, 17 Jan 2022HK$49.8tHK$46.2tHK$4.4t9.1x11.2x1.1x
Wed, 15 Dec 2021HK$49.3tHK$46.2tHK$4.4t9.1x11.1x1.1x
Fri, 12 Nov 2021HK$50.6tHK$45.9tHK$4.4t9.5x11.5x1.1x
Sun, 10 Oct 2021HK$50.9tHK$44.4tHK$4.3t9.6x11.7x1.1x
Tue, 07 Sep 2021HK$53.9tHK$44.2tHK$4.3t10.8x12.5x1.2x
Thu, 05 Aug 2021HK$51.2tHK$44.2tHK$4.3t10.4x11.9x1.2x
Sun, 09 May 2021HK$56.7tHK$41.3tHK$3.8t11.4x14.8x1.4x
Price to Earnings Ratio

14.6x


Total Market Cap: HK$56.0tTotal Earnings: HK$3.8tTotal Revenue: HK$41.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Hong Kong Market Price to Earnings3Y Average 11.3x202220232024
Current Market PE
  • Investors are relatively neutral on the Hong Kong market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 11.3x.
Past Earnings Growth
  • The earnings for Hong Kong listed companies have declined 3.3% per year over the last three years.
  • Meanwhile revenues have been flat.
  • This means that either the cost of doing business or the level of investment back into businesses is increasing since sales have remained steady while profits have fallen.

Sector Trends

Which sectors have driven the changes within the Hong Kong Market?

HK Market1.02%
Materials4.71%
Consumer Discretionary4.40%
Tech3.14%
Consumer Staples3.08%
Healthcare2.81%
Industrials1.65%
Telecom1.31%
Utilities1.29%
Energy0.58%
Real Estate0.31%
Financials-1.43%
Sector PE
  • Investors favour the Healthcare sector the most for future growth even though it's trading below its 3-year average PE ratio of 2kx.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 23.6%, which is higher than its past year's earnings growth of 9.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Materials sector, expecting annual earnings growth of 27% over the next 5 years.
  • This is better than its past earnings decline of 20% per year.
  • In contrast, the Energy industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
700 Tencent HoldingsHK$289.804.0%
+HK$104.1b
-13.4%PE12.8xTelecom
1211 BYDHK$216.809.8%
+HK$56.4b
8.9%PE20.2xConsumer Discretionary
1810 XiaomiHK$14.9411.5%
+HK$38.5b
35.6%PE21.6xTech
9880 Ubtech RoboticsHK$257.0051.4%
+HK$36.5b
n/aPS100.3xIndustrials
2899 Zijin Mining GroupHK$15.606.8%
+HK$26.3b
24.6%PE19.3xMaterials
See more
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Market Insights

When we checked in on commodity markets in November there was a lot of red on the YTD returns table. Since then, the gold price has hit a new record and crude is back above $80...

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2269

HK$14.76

WuXi Biologics (Cayman)

7D

-16.6%

1Y

-67.3%

9880

HK$257.00

Ubtech Robotics

7D

51.4%

1Y

n/a

2328

HK$10.58

PICC Property and Casualty

7D

-6.2%

1Y

43.0%

1109

HK$24.70

China Resources Land

7D

10.3%

1Y

-29.9%

3993

HK$6.35

CMOC Group

7D

17.6%

1Y

53.0%

1810

HK$14.94

Xiaomi

7D

11.5%

1Y

35.6%

1211

HK$216.80

BYD

7D

9.8%

1Y

8.9%

1398

HK$3.96

Industrial and Commercial Bank of China

7D

-2.5%

1Y

-5.9%

939

HK$4.78

China Construction Bank

7D

-1.6%

1Y

-5.3%

1288

HK$3.23

Agricultural Bank of China

7D

-1.5%

1Y

11.8%