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Hong Kong (HSI) Financials Sector Analysis

UpdatedJul 07, 2026
DataAggregated Company Financials
Companies186
  • 7D-1.2%
  • 3M-5.0%
  • 1Y0.6%
  • YTD-3.9%

Over the last 7 days, the Financials industry has dropped 1.6%, driven by pullbacks in China Construction Bank and Bank of China of 4.7% and 5.3%, respectively. In contrast, China Life Insurance has gained 6.8%. Over the last year, the industry has been flat overall. As for the next few years, earnings are expected to grow by 6.1% per annum.

Sector Valuation and Performance

Has the Hong Kong Financials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 07 Jul 2026HK$15.8tHK$6.5tHK$2.2t7.1x7.2x2.4x
Thu, 04 Jun 2026HK$16.4tHK$6.5tHK$2.2t7.7x7.5x2.5x
Sat, 02 May 2026HK$16.8tHK$6.4tHK$2.2t7.6x7.8x2.6x
Mon, 30 Mar 2026HK$15.9tHK$6.3tHK$2.1t7.8x7.5x2.5x
Wed, 25 Feb 2026HK$16.3tHK$6.4tHK$2.1t10.2x7.7x2.6x
Fri, 23 Jan 2026HK$16.5tHK$6.3tHK$2.1t10.2x7.8x2.6x
Sun, 21 Dec 2025HK$16.9tHK$6.2tHK$2.1t9.7x8.1x2.7x
Tue, 18 Nov 2025HK$17.5tHK$6.2tHK$2.1t10.1x8.5x2.8x
Thu, 16 Oct 2025HK$16.2tHK$6.0tHK$2.0t11.8x8.3x2.7x
Sat, 13 Sep 2025HK$17.0tHK$6.2tHK$2.0t11x8.4x2.7x
Mon, 11 Aug 2025HK$16.9tHK$6.1tHK$2.0t12.2x8.4x2.8x
Wed, 09 Jul 2025HK$16.7tHK$6.1tHK$2.0t10.7x8.3x2.7x
Fri, 06 Jun 2025HK$14.9tHK$6.1tHK$2.0t9.8x7.4x2.5x
Sun, 04 May 2025HK$13.8tHK$5.9tHK$2.0t8.8x7x2.3x
Tue, 01 Apr 2025HK$13.9tHK$6.0tHK$2.0t8.8x7x2.3x
Thu, 27 Feb 2025HK$13.8tHK$6.4tHK$1.9t10x7.3x2.1x
Sat, 25 Jan 2025HK$13.2tHK$6.5tHK$1.9t8.9x7x2x
Mon, 23 Dec 2024HK$13.0tHK$6.3tHK$1.9t9.2x6.9x2.1x
Wed, 20 Nov 2024HK$12.9tHK$6.4tHK$1.9t10.2x6.8x2x
Fri, 18 Oct 2024HK$13.2tHK$6.4tHK$1.8t10.3x7.3x2.1x
Sun, 15 Sep 2024HK$11.5tHK$6.4tHK$1.8t8.3x6.3x1.8x
Tue, 13 Aug 2024HK$11.6tHK$6.3tHK$1.8t8.1x6.5x1.9x
Thu, 11 Jul 2024HK$11.6tHK$6.2tHK$1.8t7.5x6.6x1.9x
Sat, 08 Jun 2024HK$11.7tHK$6.2tHK$1.8t7.9x6.6x1.9x
Mon, 06 May 2024HK$11.6tHK$6.2tHK$1.8t7.9x6.5x1.9x
Wed, 03 Apr 2024HK$11.1tHK$6.4tHK$1.8t7.7x6.2x1.7x
Fri, 01 Mar 2024HK$11.2tHK$7.0tHK$1.8t6.9x6.3x1.6x
Sun, 28 Jan 2024HK$10.7tHK$6.8tHK$1.7t7.2x6.3x1.6x
Tue, 26 Dec 2023HK$11.2tHK$8.7tHK$1.9t6.9x6x1.3x
Thu, 23 Nov 2023HK$11.6tHK$8.7tHK$1.9t7.3x6.2x1.3x
Sat, 21 Oct 2023HK$11.5tHK$8.5tHK$1.8t7x6.3x1.3x
Mon, 18 Sep 2023HK$11.6tHK$8.5tHK$1.8t7.5x6.3x1.4x
Wed, 16 Aug 2023HK$11.6tHK$8.2tHK$1.8t8.4x6.3x1.4x
Fri, 14 Jul 2023HK$12.0tHK$8.4tHK$1.9t7.8x6.5x1.4x
Price to Earnings Ratio

6.5x


Total Market Cap: HK$12.0tTotal Earnings: HK$1.9tTotal Revenue: HK$8.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Hong Kong Financials Sector Price to Earnings3Y Average 7.1x202420252026
Current Industry PE
  • Investors are relatively neutral on the Hong Kong Financials industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 7.1x.
  • The 3-year average PS ratio of 2.1x is lower than the industry's current PS ratio of 2.4x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 5.6% per year over the last three years.
  • Meanwhile revenues for these companies have declined 8.0% per year.
  • This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.

Industry Trends

Which industries have driven the changes within the Hong Kong Financials sector?

HK Market0.78%
Financials-1.23%
Insurance4.89%
Capital Markets3.71%
Consumer Finance3.32%
Mortgage Finance0%0
Diversified Financial-1.23%
Banks-3.15%
Industry PE
  • Investors are most optimistic about the Capital Markets industry even though it's trading below its 3-year average PE ratio of 28.6x.
    • Analysts are expecting annual earnings growth of 10.6%, which is lower than the prior year's growth of 79.4% per year.
  • Investors are most pessimistic about the Diversified Financial industry, which is trading below its 3-year average of 7.6x.
Forecasted Growth
  • Analysts are most optimistic on the Consumer Finance industry, expecting annual earnings growth of 11% over the next 5 years.
  • However this is lower than its past earnings growth rate of 29% per year.
  • In contrast, the Diversified Financial industry is expected to see its earnings grow by 2.9% per year over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
2628 China Life InsuranceHK$28.306.2%
+HK$46.4b		54.1%PE4.8x
1398 Industrial and Commercial Bank of ChinaHK$6.490.9%
+HK$21.4b		5.5%PB0.5x
388 Hong Kong Exchanges and ClearingHK$375.803.5%
+HK$16.2b		-10.0%PE25.2x
1339 People's Insurance Company (Group) of ChinaHK$5.047.5%
+HK$15.5b		-12.3%PE4.6x
1288 Agricultural Bank of ChinaHK$5.380.7%
+HK$14.0b		-4.9%PB0.5x

Latest News

2628
HK$28.30
China Life Insurance
7D
6.2%
1Y
54.1%
Narrative Update • Jul 06

2628: Index Additions And 2025 Dividend Will Support Future Upside

Analysts have trimmed their fair value estimate and corresponding price target for China Life Insurance to reflect a slightly lower implied valuation of around HK$34.77 per share. This change is based on modestly more conservative assumptions on long term earnings multiples, while growth and profitability expectations are kept broadly steady.
6881
HK$7.21
China Galaxy Securities
7D
-2.0%
1Y
-21.6%
939
HK$7.83
China Construction Bank
7D
-3.0%
1Y
-5.0%
388
HK$375.80
Hong Kong Exchanges and Clearing
7D
3.5%
1Y
-10.0%
2328
HK$14.66
PICC Property and Casualty
7D
2.4%
1Y
-3.4%
3988
HK$4.82
Bank of China
7D
-3.4%
1Y
3.0%
Narrative Update • Jul 01

3988: Overnight Policy Shift And Dividend Plans Will Support Higher Returns

Analysts have raised the Bank of China price target from about HK$6.77 to around HK$7.31, citing updated assumptions that reflect slightly higher revenue growth expectations, a modestly lower future P/E multiple, and broadly similar discount rate and profit margin inputs. What’s in the News for Bank of China The People’s Bank of China outlined plans to move toward an overnight policy rate framework, bringing its approach closer to the US Federal Reserve and potentially affecting funding conditions for Bank of China.
1288
HK$5.38
Agricultural Bank of China
7D
0.7%
1Y
-4.9%
Narrative Update • Jul 01

1288: Rising Payouts And Wealth Management Flows Will Support Upside Outlook

The analyst price target for Agricultural Bank of China has been revised from HK$6.20 to HK$6.65, with analysts citing updated inputs for fair value, discount rate, revenue growth, profit margin and future P/E assumptions as the key drivers behind the change. What’s in the News for Agricultural Bank of China Star Sports Medicine Co., Ltd.
1606
HK$1.32
China Development Bank Financial Leasing
7D
-11.4%
1Y
-20.5%
3328
HK$6.62
Bank of Communications
7D
-1.8%
1Y
-10.7%
1398
HK$6.49
Industrial and Commercial Bank of China
7D
0.9%
1Y
5.5%
1339
HK$5.04
People's Insurance Company (Group) of China
7D
7.5%
1Y
-12.3%
2388
HK$43.16
BOC Hong Kong (Holdings)
7D
1.8%
1Y
20.9%
Narrative Update • Jun 27

2388: Dividend Timetable And Higher P E Assumptions Will Guide Steady Outlook

The analyst price target for BOC Hong Kong (Holdings) has been raised from about HK$45.18 to around HK$48.32. Analysts point to updated assumptions on revenue growth, profit margin and future P/E to support the change.
2672
HK$61.65
Baige Online Digital Technology
7D
-17.8%
1Y
n/a
1299
HK$72.60
AIA Group
7D
1.6%
1Y
5.7%
Narrative Update • Jun 22

1299: Dividend Lift And New Bylaws Will Support Stronger Future Returns

Analysts have inched their consolidated price target for AIA Group lower to about HK$104.36 from around HK$104.43, reflecting slightly updated assumptions on long term revenue growth, profit margins, discount rate and future P/E multiples. What's in the News AIA Group approved the adoption of new articles of association at its Annual General Meeting held on 22 May 2026, formalizing updated company bylaws.
1828
HK$27.62
FWD Group Holdings
7D
-2.7%
1Y
-27.3%
628
HK$0.23
Tong Tong AI Social Group
7D
-34.3%
1Y
-16.4%