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Hong Kong (HSI) Market Analysis & Valuation

UpdatedAug 28, 2026
DataAggregated Company Financials
Companies2315
  • 7D1.0%
  • 3M-1.2%
  • 1Y-2.0%
  • YTD-3.0%

Over the last 7 days, the market has risen 1.0%, driven by gains of 1.3% in the Financials sector. The market has been flat overall in the last year. As for the next few years, earnings are expected to grow by 12% per annum.

Trending IndustriesOil and GasGoldBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 28 Aug 2026HK$55.8tHK$45.6tHK$4.4t11.5x12.7x1.2x
Sun, 26 Jul 2026HK$54.1tHK$44.9tHK$4.2t11.6x12.8x1.2x
Tue, 23 Jun 2026HK$53.1tHK$44.9tHK$4.2t11.5x12.7x1.2x
Thu, 21 May 2026HK$56.1tHK$44.6tHK$4.2t12.6x13.4x1.3x
Sat, 18 Apr 2026HK$57.4tHK$44.5tHK$4.2t12.6x13.8x1.3x
Mon, 16 Mar 2026HK$56.7tHK$44.1tHK$4.0t12.1x14.1x1.3x
Wed, 11 Feb 2026HK$57.7tHK$43.9tHK$4.0t12.4x14.4x1.3x
Fri, 09 Jan 2026HK$56.7tHK$43.3tHK$4.0t12.2x14.3x1.3x
Sun, 07 Dec 2025HK$56.7tHK$42.8tHK$3.9t12.3x14.4x1.3x
Tue, 04 Nov 2025HK$56.7tHK$42.4tHK$3.9t12.7x14.6x1.3x
Thu, 02 Oct 2025HK$57.7tHK$43.2tHK$3.9t12.7x14.6x1.3x
Sat, 30 Aug 2025HK$57.0tHK$43.6tHK$3.9t12.4x14.6x1.3x
Mon, 28 Jul 2025HK$55.6tHK$43.6tHK$3.9t12x14.2x1.3x
Wed, 25 Jun 2025HK$52.9tHK$43.6tHK$3.9t11.1x13.6x1.2x
Fri, 23 May 2025HK$50.7tHK$43.2tHK$3.8t11.1x13.2x1.2x
Sun, 20 Apr 2025HK$46.7tHK$42.5tHK$3.7t10.4x12.5x1.1x
Tue, 18 Mar 2025HK$49.4tHK$43.5tHK$3.6t10.6x13.9x1.1x
Thu, 13 Feb 2025HK$45.9tHK$43.0tHK$3.5t10.2x13.1x1.1x
Sat, 11 Jan 2025HK$42.5tHK$42.5tHK$3.6t9.7x11.7x1x
Mon, 09 Dec 2024HK$44.1tHK$42.8tHK$3.7t10x12.1x1x
Wed, 06 Nov 2024HK$45.4tHK$43.5tHK$3.7t9.9x12.3x1x
Fri, 04 Oct 2024HK$46.7tHK$43.7tHK$3.6t10.2x13x1.1x
Sun, 01 Sep 2024HK$40.4tHK$43.6tHK$3.6t8.9x11.2x0.9x
Tue, 30 Jul 2024HK$39.6tHK$42.6tHK$3.5t9.1x11.4x0.9x
Thu, 27 Jun 2024HK$41.1tHK$42.5tHK$3.5t9.5x11.8x1x
Sat, 25 May 2024HK$42.0tHK$43.2tHK$3.4t9.8x12.2x1x
Mon, 22 Apr 2024HK$39.1tHK$43.2tHK$3.4t9.1x11.5x0.9x
Wed, 20 Mar 2024HK$38.2tHK$43.9tHK$3.5t8.9x11x0.9x
Fri, 16 Feb 2024HK$36.4tHK$43.9tHK$3.4t8.6x10.8x0.8x
Sun, 14 Jan 2024HK$37.2tHK$45.6tHK$3.5t9.2x10.7x0.8x
Tue, 12 Dec 2023HK$37.0tHK$45.7tHK$3.5t8.8x10.7x0.8x
Thu, 09 Nov 2023HK$38.4tHK$45.2tHK$3.4t9x11.2x0.9x
Sat, 07 Oct 2023HK$39.0tHK$45.0tHK$3.4t9.1x11.4x0.9x
Mon, 04 Sep 2023HK$40.2tHK$45.4tHK$3.5t9.2x11.6x0.9x
Price to Earnings Ratio

11.6x


Total Market Cap: HK$40.2tTotal Earnings: HK$3.5tTotal Revenue: HK$45.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Hong Kong Market Price to Earnings3Y Average 12.7x202420252026
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 12.7x.
Past Earnings Growth
  • The earnings for Hong Kong listed companies have grown 8.2% per year over the last three years, while revenues have remained steady.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Sector Trends

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

HK Market1.04%
Materials4.40%
Tech4.14%
Healthcare2.58%
Energy2.00%
Utilities1.57%
Financials1.28%
Industrials0.85%
Consumer Staples0.12%
Real Estate-0.57%
Telecom-0.91%
Consumer Discretionary-1.61%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 49.0x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 33.2%, which is higher than its past year's earnings growth of 16.6% per year.
  • The Financials sector is the least preferred by investors for future growth, which is trading close to its 3-year average of 7.2x.
Forecasted Growth
  • Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 33% over the next 5 years.
  • This is better than its past earnings growth rate of 17% per year.
  • In contrast, the Utilities 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
386 China Petroleum & ChemicalHK$4.778.2%
+HK$43.5b		10.6%PE14xEnergy
2628 China Life InsuranceHK$29.424.8%
+HK$38.4b		22.5%PE2.9xFinancials
6869 Yangtze Optical Fibre And Cable LimitedHK$170.3021.6%
+HK$24.9b		221.3%PE34.9xTech
1888 Kingboard Laminates HoldingsHK$45.1621.1%
+HK$24.8b		240.8%PE32.4xTech
3988 Bank of ChinaHK$5.581.4%
+HK$24.2b		31.0%PB0.5xFinancials
See more

Market Insights

Header cover image
At first glance, this was the strongest earnings season in years. But when you look at where the growth actually came from, the story splits into two very different pictures.
Continue reading
Which payment stocks actually get paid?

Latest News

2628
HK$29.42
China Life Insurance
7D
4.8%
1Y
22.5%
6869
HK$170.30
Yangtze Optical Fibre And Cable Limited
7D
21.6%
1Y
221.3%
3692
HK$36.72
Hansoh Pharmaceutical Group
7D
11.0%
1Y
1.9%
16
HK$121.90
Sun Hung Kai Properties
7D
-4.9%
1Y
33.1%
Narrative Update • Aug 27

16: West Kowloon Leasing Momentum And Margin Recovery Will Support A Steady Uptrend

Analysts now set their price target for Sun Hung Kai Properties at about HK$140.66, compared with the prior HK$143.61. The revision reflects updated assumptions for slightly lower revenue growth, a modestly higher profit margin and a small change in the P/E multiple used in their valuation work.
9999
HK$192.20
NetEase
7D
-4.9%
1Y
-9.5%
Narrative Update • Aug 26

9999: Dividend Policy And Stronger Margins Will Support Future Upside Potential

Analysts have trimmed their NetEase price target slightly to about HK$303 from roughly HK$310, reflecting updated assumptions that combine more moderate revenue growth with higher profit margins and a lower future P/E multiple. What’s in the News for NetEase NetEase announced a Second Quarter 2026 dividend of US$0.096 per share, with an ex-dividend date of 2 September 2026, a record date of 3 September 2026, and a payment date of 15 September 2026.
981
HK$70.15
Semiconductor Manufacturing International
7D
-3.2%
1Y
15.6%
Narrative Update • Aug 26

981: Rich P/E Will Persist Despite AI Demand Boosting Margins

Analysts have lifted their fair value estimate for Semiconductor Manufacturing International to about HK$35.57 from around HK$26.56, reflecting updated assumptions that pair slightly lower revenue growth expectations with higher projected profit margins and a similar future P/E profile. What’s in the News for Semiconductor Manufacturing International Semiconductor Manufacturing International reported second quarter profit of US$479.2 million, more than tripling year on year, with revenue of US$3b supported by strong AI related chip demand, higher wafer prices, and increased shipments.
1888
HK$45.16
Kingboard Laminates Holdings
7D
21.1%
1Y
240.8%
386
HK$4.77
China Petroleum & Chemical
7D
8.2%
1Y
10.6%
Analysis Article • Aug 25

China Petroleum & Chemical Corporation Just Missed EPS By 14%: Here's What Analysts Think Will Happen Next

China Petroleum & Chemical Corporation ( HKG:386 ) just released its latest half-yearly report and things are not...
3988
HK$5.58
Bank of China
7D
1.4%
1Y
31.0%
1810
HK$27.82
Xiaomi
7D
-4.1%
1Y
-47.4%
3690
HK$77.50
Meituan
7D
-8.8%
1Y
-24.5%
941
HK$79.40
China Mobile
7D
-4.1%
1Y
-11.2%
2723
HK$788.50
Beijing DeepZero Technology
7D
23.2%
1Y
n/a
1088
HK$45.82
China Shenhua Energy
7D
1.8%
1Y
31.4%
1288
HK$6.23
Agricultural Bank of China
7D
-0.9%
1Y
18.6%
Narrative Update • Jul 15

1288: Higher Global Standing But Compressed Margins Will Likely Restrain Shares

Analysts have raised the price target for Agricultural Bank of China to HK$4.97 from HK$3.95, citing updated fair value estimates, a slightly lower discount rate, and revised assumptions for revenue growth, profit margins, and future P/E multiples. What’s in the News for Agricultural Bank of China Agricultural Bank of China remains among the top four banks globally in The Banker’s 2026 Top 1000 World Banks ranking, with seven of the world’s top 10 banks headquartered in China, according to The Banker.
939
HK$9.14
China Construction Bank
7D
-1.1%
1Y
21.7%