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Hong Kong (HSI) Market Analysis & Valuation

UpdatedJan 11, 2026
DataAggregated Company Financials
Companies2297
  • 7D-0.09%
  • 3M-0.08%
  • 1Y35.4%
  • YTD-0.08%

The Healthcare sector gained 9.9% while the market remained flat over the last week. More promisingly, the market is up 35% over the past 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
Sun, 11 Jan 2026HK$56.9tHK$43.4tHK$4.0t12.3x14.3x1.3x
Tue, 09 Dec 2025HK$56.2tHK$42.8tHK$3.9t12.3x14.3x1.3x
Thu, 06 Nov 2025HK$56.4tHK$42.3tHK$3.9t12.5x14.5x1.3x
Sat, 04 Oct 2025HK$58.0tHK$43.2tHK$3.9t12.8x14.7x1.3x
Mon, 01 Sep 2025HK$57.0tHK$43.4tHK$4.0t12.3x14.4x1.3x
Wed, 30 Jul 2025HK$55.7tHK$43.6tHK$3.9t12x14.3x1.3x
Fri, 27 Jun 2025HK$53.4tHK$43.6tHK$3.9t11.2x13.7x1.2x
Sun, 25 May 2025HK$50.6tHK$43.4tHK$3.8t11x13.2x1.2x
Tue, 22 Apr 2025HK$46.7tHK$42.6tHK$3.7t10.4x12.5x1.1x
Thu, 20 Mar 2025HK$50.2tHK$43.6tHK$3.6t10.8x14.1x1.2x
Sat, 15 Feb 2025HK$46.8tHK$43.2tHK$3.5t10.2x13.3x1.1x
Mon, 13 Jan 2025HK$42.6tHK$42.2tHK$3.6t9.7x11.8x1x
Wed, 11 Dec 2024HK$44.7tHK$42.9tHK$3.7t10x12.2x1x
Fri, 08 Nov 2024HK$45.6tHK$43.2tHK$3.7t10x12.4x1.1x
Sun, 06 Oct 2024HK$47.4tHK$43.6tHK$3.6t10.6x13.2x1.1x
Tue, 03 Sep 2024HK$40.1tHK$43.5tHK$3.6t8.9x11.1x0.9x
Thu, 01 Aug 2024HK$39.6tHK$42.8tHK$3.5t9.3x11.4x0.9x
Sat, 29 Jun 2024HK$41.0tHK$42.6tHK$3.5t9.5x11.8x1x
Mon, 27 May 2024HK$42.0tHK$43.2tHK$3.4t9.8x12.2x1x
Wed, 24 Apr 2024HK$39.4tHK$43.2tHK$3.4t9x11.5x0.9x
Fri, 22 Mar 2024HK$38.8tHK$43.9tHK$3.4t9x11.4x0.9x
Sun, 18 Feb 2024HK$37.1tHK$43.6tHK$3.3t8.7x11.1x0.9x
Tue, 16 Jan 2024HK$37.3tHK$45.6tHK$3.5t9.1x10.8x0.8x
Thu, 14 Dec 2023HK$37.0tHK$45.7tHK$3.5t8.9x10.7x0.8x
Sat, 11 Nov 2023HK$38.0tHK$45.1tHK$3.4t9x11.1x0.8x
Mon, 09 Oct 2023HK$39.0tHK$45.0tHK$3.4t9.1x11.4x0.9x
Wed, 06 Sep 2023HK$40.4tHK$45.1tHK$3.4t9.3x11.7x0.9x
Fri, 04 Aug 2023HK$42.1tHK$45.8tHK$3.7t9.8x11.5x0.9x
Sun, 02 Jul 2023HK$41.5tHK$45.6tHK$3.7t9.7x11.4x0.9x
Tue, 30 May 2023HK$41.8tHK$46.5tHK$3.7t9.4x11.2x0.9x
Thu, 27 Apr 2023HK$44.1tHK$47.4tHK$3.8t9.8x11.6x0.9x
Sat, 25 Mar 2023HK$43.5tHK$47.6tHK$4.1t9x10.6x0.9x
Mon, 20 Feb 2023HK$43.5tHK$47.6tHK$4.2t8.9x10.3x0.9x
Wed, 18 Jan 2023HK$44.4tHK$48.1tHK$4.3t8.9x10.4x0.9x
Price to Earnings Ratio

10.4x


Total Market Cap: HK$44.4tTotal Earnings: HK$4.3tTotal Revenue: HK$48.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Hong Kong Market Price to Earnings3Y Average 12.2x202420252026
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 14.3x which is higher than its 3-year average PE of 12.2x.
Past Earnings Growth
  • The earnings for companies in the Hong Kong industry have declined 2.4% per year over the last three years.
  • Revenues have also declined 3.4% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Sector Trends

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

HK Market-0.094%
Healthcare9.85%
Materials3.98%
Real Estate3.25%
Utilities1.87%
Industrials1.55%
Consumer Staples1.28%
Tech-1.17%
Energy-1.27%
Financials-1.33%
Consumer Discretionary-1.47%
Telecom-1.63%
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 140x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 30.4%, which is higher than its past year's earnings growth of 1.4% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 30% over the next 5 years.
  • This is better than its past earnings growth rate of 1.4% per year.
  • In contrast, the Financials sector is expected to see its earnings grow by 2.6% 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
2628 China Life InsuranceHK$31.489.2%
+HK$74.6b		140.3%PE4.7xFinancials
1024 Kuaishou TechnologyHK$74.7012.8%
+HK$39.4b		89.8%PE16.8xTelecom
3692 Hansoh Pharmaceutical GroupHK$41.6014.2%
+HK$31.2b		156.2%PE47.2xHealthcare
1088 China Shenhua EnergyHK$41.063.5%
+HK$27.8b		34.4%PE13.1xEnergy
6618 JD Health InternationalHK$63.8513.3%
+HK$24.1b		136.9%PE38.9xConsumer Staples
See more

Market Insights

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Latest News

1024
HK$74.70
Kuaishou Technology
7D
12.8%
1Y
89.8%

1024: Fair Outlook Will Balance AI Content Advances And Ongoing Share Buybacks

Analysts have lifted their price target for Kuaishou Technology from HK$65.17 to HK$73.69, citing updated assumptions around slightly softer revenue growth, a modestly higher discount rate, a marginally stronger profit margin profile, and a higher future P/E multiple. What's in the News Kling AI released the Kling Video 2.6 Model on December 3, 2025, adding simultaneous audio and visual generation so creators can produce short videos with visuals, voiceovers, sound effects, and ambient audio in a single step, with support for Chinese and English and video lengths up to 10 seconds (Key Developments).
1398
HK$6.13
Industrial and Commercial Bank of China
7D
-3.3%
1Y
25.9%

1398: Higher Revenue Assumptions Will Still Pressure Margins And Share Performance

Analysts have slightly lifted their price target for Industrial and Commercial Bank of China, reflecting updated assumptions for fair value, discount rate, revenue growth, profit margin, and forward P/E that they see as better aligned with the bank’s current outlook. What's in the News A board meeting is scheduled for Dec 23, 2025, to review the bank's green finance implementation over the past two years, compliance management regulations, and proposed remuneration plans for directors and senior management for 2024 (Key Developments).
3988
HK$4.39
Bank of China
7D
-3.1%
1Y
13.1%

3988: Future P/E Repricing Will Support Upgraded Fair Value Estimate

Analysts have lifted their fair value estimate for Bank of China from US$5.93 to US$6.34, reflecting updated assumptions around discount rates, revenue growth, profit margins, and an expected future P/E of about 11.3x. What's in the News A board meeting is scheduled for December 19, 2025, to review the information disclosure policy; rules on securities transactions by directors and senior management; routine connected transactions with China CITIC Financial Asset Management entities; matters related to International Holdings Limited under Shanghai Stock Exchange rules; and remuneration plans for executive directors and senior management for 2024 (Key Developments).
1810
HK$37.82
Xiaomi
7D
-6.1%
1Y
12.7%

We Like These Underlying Return On Capital Trends At Xiaomi (HKG:1810)

Jan 08
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6618
HK$63.85
JD Health International
7D
13.3%
1Y
136.9%

6618: New JD Platform Agreements Will Support Long-Term Shareholder Outperformance

Analysts have nudged their fair value estimate for JD Health International slightly higher, from about HK$76.29 to roughly HK$76.81, citing updated assumptions on revenue growth, profit margin and future P/E that together refine their overall view of the stock’s pricing. What's in the News JD Health International has scheduled a special or extraordinary shareholders meeting for December 8, 2025, at 10:30 China Standard Time in Beijing to vote on an agreement with JD.com for technology and traffic support services and related transactions (Key Developments).
939
HK$7.59
China Construction Bank
7D
-2.7%
1Y
28.4%

939: Interim Profit Distribution And Debt Issuance Will Support Future Upside

Analysts have adjusted their price expectations for China Construction Bank slightly lower to reflect updated fair value, discount rate, and P/E inputs. This has led to a modest trim in the overall target that aligns with small changes in profit margin assumptions.
3692
HK$41.60
Hansoh Pharmaceutical Group
7D
14.2%
1Y
156.2%
2269
HK$37.06
WuXi Biologics (Cayman)
7D
13.9%
1Y
115.5%
1088
HK$41.06
China Shenhua Energy
7D
3.5%
1Y
34.4%

Does China Shenhua Energy (HKG:1088) Have A Healthy Balance Sheet?

Jan 07
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16
HK$104.20
Sun Hung Kai Properties
7D
7.9%
1Y
46.3%

16: Higher Future P/E And Margins Will Support A Stronger Earnings Outlook

Analysts now place their fair value estimate for Sun Hung Kai Properties at HK$120.00, up from HK$112.10, citing adjusted assumptions around the discount rate, revenue growth, profit margin and future P/E. What's in the News Shareholders approved the adoption of new articles of association at the annual general meeting held on November 6, 2025, updating the company bylaws for Sun Hung Kai Properties (Key Developments).
2628
HK$31.48
China Life Insurance
7D
9.2%
1Y
140.3%
857
HK$8.10
PetroChina
7D
-4.9%
1Y
32.8%
1288
HK$5.53
Agricultural Bank of China
7D
-5.1%
1Y
31.4%

1288: Dividend Plans And Governance Reviews Will Shape Balanced 2025 Outlook

Analysts have nudged their price target on Agricultural Bank of China slightly higher to reflect a fair value of ¥6.36 versus the prior ¥6.31, citing small adjustments to discount rate assumptions, revenue growth expectations, profit margin outlook, and forward P/E estimates. What's in the News Board meeting scheduled for Dec 26, 2025 to review 2024 remuneration for directors and senior management, and to consider the terms of reference of the audit committee, indicating upcoming decisions on governance and pay structures (Key Developments).
700
HK$611.00
Tencent Holdings
7D
-1.9%
1Y
65.3%

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Jan 01
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941
HK$80.95
China Mobile
7D
-3.0%
1Y
8.2%
1801
HK$89.30
Innovent Biologics
7D
13.3%
1Y
166.2%