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Hong Kong (HSI) Market Analysis & Valuation

UpdatedMar 23, 2026
DataAggregated Company Financials
Companies2298
  • 7D-0.9%
  • 3M0.9%
  • 1Y13.9%
  • YTD-0.6%

The market has been flat in the last week, however the Materials sector is down 11%. More promisingly, the market is up 14% over the past year. Earnings are forecast to grow by 11% annually.

Trending IndustriesOil and GasGoldBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 24 Mar 2026HK$55.9tHK$44.2tHK$4.0t11.8x13.9x1.3x
Thu, 19 Feb 2026HK$57.2tHK$43.9tHK$4.0t12.6x14.3x1.3x
Sat, 17 Jan 2026HK$57.2tHK$43.4tHK$4.0t12.4x14.4x1.3x
Mon, 15 Dec 2025HK$56.0tHK$42.9tHK$3.9t12.1x14.2x1.3x
Wed, 12 Nov 2025HK$57.8tHK$42.4tHK$3.9t12.6x14.8x1.4x
Fri, 10 Oct 2025HK$58.2tHK$43.2tHK$3.9t12.9x14.8x1.3x
Sun, 07 Sep 2025HK$57.2tHK$43.4tHK$4.0t12.1x14.4x1.3x
Tue, 05 Aug 2025HK$54.7tHK$43.6tHK$3.9t11.9x14x1.3x
Thu, 03 Jul 2025HK$53.4tHK$43.6tHK$3.9t11.1x13.7x1.2x
Sat, 31 May 2025HK$50.3tHK$43.5tHK$3.9t11.1x13x1.2x
Mon, 28 Apr 2025HK$47.6tHK$42.6tHK$3.7t10.7x12.7x1.1x
Wed, 26 Mar 2025HK$48.5tHK$43.7tHK$3.6t10.7x13.5x1.1x
Fri, 21 Feb 2025HK$46.9tHK$43.2tHK$3.5t10.2x13.3x1.1x
Sun, 19 Jan 2025HK$43.4tHK$42.6tHK$3.6t9.9x11.9x1x
Tue, 17 Dec 2024HK$44.1tHK$42.7tHK$3.7t9.9x12.1x1x
Thu, 14 Nov 2024HK$43.7tHK$43.0tHK$3.7t9.8x11.9x1x
Sat, 12 Oct 2024HK$45.3tHK$43.6tHK$3.6t10x12.7x1x
Mon, 09 Sep 2024HK$39.2tHK$43.7tHK$3.6t9x10.9x0.9x
Wed, 07 Aug 2024HK$38.7tHK$43.1tHK$3.5t8.9x11x0.9x
Fri, 05 Jul 2024HK$41.5tHK$42.6tHK$3.5t9.5x12x1x
Sun, 02 Jun 2024HK$41.5tHK$43.3tHK$3.4t9.7x12.1x1x
Tue, 30 Apr 2024HK$40.6tHK$43.2tHK$3.4t9.2x11.9x0.9x
Thu, 28 Mar 2024HK$38.4tHK$43.4tHK$3.3t8.8x11.5x0.9x
Sat, 24 Feb 2024HK$38.5tHK$43.8tHK$3.4t8.9x11.3x0.9x
Mon, 22 Jan 2024HK$35.2tHK$44.2tHK$3.4t8.8x10.4x0.8x
Wed, 20 Dec 2023HK$37.3tHK$45.9tHK$3.5t9x10.7x0.8x
Fri, 17 Nov 2023HK$39.2tHK$45.2tHK$3.4t9x11.5x0.9x
Sun, 15 Oct 2023HK$39.3tHK$45.0tHK$3.4t9.1x11.5x0.9x
Tue, 12 Sep 2023HK$40.0tHK$45.1tHK$3.4t9.3x11.6x0.9x
Thu, 10 Aug 2023HK$41.7tHK$45.7tHK$3.6t9.8x11.4x0.9x
Sat, 08 Jul 2023HK$40.7tHK$45.8tHK$3.7t9.7x11.1x0.9x
Mon, 05 Jun 2023HK$42.2tHK$46.5tHK$3.7t9.4x11.3x0.9x
Wed, 03 May 2023HK$44.7tHK$47.6tHK$3.8t9.7x11.8x0.9x
Fri, 31 Mar 2023HK$43.7tHK$48.0tHK$4.1t9.4x10.6x0.9x
Price to Earnings Ratio

10.6x


Total Market Cap: HK$43.7tTotal Earnings: HK$4.1tTotal Revenue: HK$48.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Hong Kong Market Price to Earnings3Y Average 12.4x202420252026
Current Market PE
  • Investors are optimistic on the Hong Kong market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 13.9x which is higher than its 3-year average PE of 12.4x.
Past Earnings Growth
  • The earnings for Hong Kong listed companies have remained mostly flat over the last three years.
  • Meanwhile revenues have declined 2.7% per year.
  • This means that the cost of doing business could be reducing since sales have declined yet profits have remained steady.

Sector Trends

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

HK Market-0.89%
Financials2.39%
Consumer Discretionary1.68%
Energy1.02%
Healthcare-0.57%
Consumer Staples-1.49%
Tech-1.73%
Real Estate-1.75%
Utilities-2.00%
Industrials-2.29%
Telecom-4.92%
Materials-11.31%
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 132x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 31.1%, which is higher than its past year's earnings growth of 1.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 31% over the next 5 years.
  • This is better than its past earnings growth rate of 1.1% per year.
  • In contrast, the Financials sector is expected to see its earnings grow by 3.3% per year over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuationSector
1088 China Shenhua EnergyHK$48.661.5%
+HK$80.6b		50.7%PE16.3xEnergy
883 CNOOCHK$30.503.6%
+HK$50.4b		64.5%PE10.4xEnergy
857 PetroChinaHK$10.761.3%
+HK$25.6b		77.3%PE11xEnergy
175 Geely Automobile HoldingsHK$20.0011.0%
+HK$21.4b		13.3%PE11.3xConsumer Discretionary
3317 Shenzhen Xunce TechnologyHK$136.0024.0%
+HK$8.5b		n/aPS70.6xTech
See more

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Latest News

2661
HK$144.40
QingSong Health
7D
23.5%
1Y
n/a
883
HK$30.50
CNOOC
7D
3.6%
1Y
64.5%
700
HK$498.40
Tencent Holdings
7D
-10.8%
1Y
-2.8%
1299
HK$79.35
AIA Group
7D
-4.9%
1Y
31.9%
1378
HK$31.70
China Hongqiao Group
7D
-18.1%
1Y
105.3%
9973
HK$27.76
Chery Automobile
7D
3.9%
1Y
n/a
939
HK$7.79
China Construction Bank
7D
-3.2%
1Y
11.6%

939: Fair Outlook Will Balance Governance Decisions And Slightly Revised Profitability Assumptions

Analysts have raised their price target on China Construction Bank to HK$7.54 from HK$7.44, reflecting updated fair value assumptions. The change is based on slightly revised inputs for the discount rate, revenue growth, profit margin and future P/E.
1428
HK$13.25
Bright Smart Securities & Commodities Group
7D
42.9%
1Y
371.5%
175
HK$20.00
Geely Automobile Holdings
7D
11.0%
1Y
13.3%
981
HK$54.15
Semiconductor Manufacturing International
7D
-13.4%
1Y
12.1%

981: Guided Margins And Flat Near Term Outlook Will Support Upside Potential

Analysts have nudged their price target on Semiconductor Manufacturing International higher to reflect modest adjustments in fair value, discount rate, revenue growth, profit margin and future P/E assumptions, implying a slightly richer valuation in HK$. What's in the News A board meeting is scheduled for Mar 26, 2026, to approve the publication of audited annual results for the year ended Dec 31, 2025 (company announcement).
1810
HK$32.06
Xiaomi
7D
-8.9%
1Y
-43.8%

1810: Auto Ecosystem Expansion And Partnerships Will Drive Future Upside Potential

Narrative Update Analysts have lowered Xiaomi's implied fair value, reflected in a reduced blended price target that is consistent with recent revisions, including the adjustment from HK$40 to HK$30. They have also moderated expectations for smartphone and auto related growth, citing pressure from higher memory costs and softer sales assumptions.
3317
HK$136.00
Shenzhen Xunce Technology
7D
24.0%
1Y
n/a
941
HK$77.85
China Mobile
7D
-2.8%
1Y
-5.8%

941: Connected Agreements And CEO Transition Will Support Future Share Rerating

Analysts have slightly reduced their HK$ fair value estimate for China Mobile to HK$99.77 from about HK$100.04, reflecting updated assumptions for revenue growth, profit margin and future P/E, while leaving their overall view broadly unchanged. What's in the News China Mobile announced that Chief Executive Officer Mr. He Biao has resigned due to a work reassignment, effective 12 February 2026.
2628
HK$26.02
China Life Insurance
7D
-8.5%
1Y
61.2%

2628: Higher Margin Outlook And Upcoming Dividend Decision Will Support Future Upside

Analysts have raised their price target on China Life Insurance to HK$36.46 from HK$32.96, citing updated assumptions around revenue growth, profit margins, and a lower future P/E multiple in their models. What's in the News A board meeting is scheduled for Mar 25, 2026 to review and approve the final results for the year ended Dec 31, 2025 (Key Developments) Directors are set to consider a recommendation for a final dividend for the 2025 financial year at the same meeting (Key Developments) The agenda also includes handling any other business, which can sometimes cover items such as board updates or corporate actions (Key Developments) Valuation Changes Fair Value: HK$32.96 has been updated to HK$36.46, indicating a modest uplift in the assessed valuation level used in the model.
857
HK$10.76
PetroChina
7D
1.3%
1Y
77.3%
1088
HK$48.66
China Shenhua Energy
7D
1.5%
1Y
50.7%