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Hong Kong (HSI) Financials Sector Analysis

UpdatedMay 23, 2026
DataAggregated Company Financials
Companies187
  • 7D-1.2%
  • 3M3.2%
  • 1Y19.5%
  • YTD4.4%

Over the last 7 days, the Financials industry has dropped 2.6%, driven by a pullback from Agricultural Bank of China of 3.0%. This takes the industry's 12 month performance to a gain of 19%. Earnings are forecast to grow by 6.1% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 23 May 2026HK$16.5tHK$6.5tHK$2.2t7.8x7.6x2.5x
Mon, 20 Apr 2026HK$16.8tHK$6.4tHK$2.2t7.7x7.8x2.6x
Wed, 18 Mar 2026HK$16.5tHK$6.4tHK$2.1t9.4x7.7x2.6x
Fri, 13 Feb 2026HK$16.5tHK$6.3tHK$2.1t10.3x7.8x2.6x
Sun, 11 Jan 2026HK$17.1tHK$6.3tHK$2.1t9.7x8.1x2.7x
Tue, 09 Dec 2025HK$17.0tHK$6.2tHK$2.1t9.7x8.2x2.7x
Thu, 06 Nov 2025HK$17.3tHK$6.2tHK$2.1t10.5x8.4x2.8x
Sat, 04 Oct 2025HK$16.2tHK$6.2tHK$2.0t11.1x8x2.6x
Mon, 01 Sep 2025HK$16.9tHK$6.2tHK$2.0t10.3x8.3x2.7x
Wed, 30 Jul 2025HK$16.7tHK$6.1tHK$2.0t12.4x8.3x2.7x
Fri, 27 Jun 2025HK$16.7tHK$6.1tHK$2.0t9.9x8.3x2.7x
Sun, 25 May 2025HK$14.6tHK$6.1tHK$2.0t9.4x7.3x2.4x
Tue, 22 Apr 2025HK$13.7tHK$5.9tHK$2.0t8.1x7x2.3x
Thu, 20 Mar 2025HK$14.2tHK$6.5tHK$1.9t9.9x7.4x2.2x
Sat, 15 Feb 2025HK$13.7tHK$6.5tHK$1.9t9.7x7.2x2.1x
Mon, 13 Jan 2025HK$12.8tHK$6.3tHK$1.9t9.1x6.9x2x
Wed, 11 Dec 2024HK$13.3tHK$6.4tHK$1.9t9.9x7x2.1x
Fri, 08 Nov 2024HK$13.4tHK$6.5tHK$1.9t10x7x2.1x
Sun, 06 Oct 2024HK$13.7tHK$6.4tHK$1.8t11.5x7.5x2.1x
Tue, 03 Sep 2024HK$11.9tHK$6.3tHK$1.8t8.1x6.5x1.9x
Thu, 01 Aug 2024HK$11.6tHK$6.3tHK$1.8t8.1x6.5x1.9x
Sat, 29 Jun 2024HK$11.7tHK$6.2tHK$1.8t8x6.6x1.9x
Mon, 27 May 2024HK$11.9tHK$6.2tHK$1.8t8x6.7x1.9x
Wed, 24 Apr 2024HK$11.2tHK$6.3tHK$1.8t7.1x6.2x1.8x
Fri, 22 Mar 2024HK$11.0tHK$7.0tHK$1.8t7.2x6.1x1.6x
Sun, 18 Feb 2024HK$10.9tHK$6.8tHK$1.7t7.1x6.4x1.6x
Tue, 16 Jan 2024HK$11.1tHK$8.4tHK$1.9t7.1x6x1.3x
Thu, 14 Dec 2023HK$11.1tHK$8.6tHK$1.9t6.8x5.9x1.3x
Sat, 11 Nov 2023HK$11.3tHK$8.5tHK$1.8t7.1x6.1x1.3x
Mon, 09 Oct 2023HK$11.6tHK$8.5tHK$1.8t7.4x6.3x1.4x
Wed, 06 Sep 2023HK$11.6tHK$8.5tHK$1.8t7.4x6.3x1.4x
Fri, 04 Aug 2023HK$12.1tHK$8.3tHK$1.9t7.7x6.5x1.5x
Sun, 02 Jul 2023HK$12.2tHK$8.3tHK$1.8t7.9x6.6x1.5x
Tue, 30 May 2023HK$12.6tHK$8.5tHK$1.9t7.6x6.7x1.5x
Price to Earnings Ratio

6.7x


Total Market Cap: HK$12.6tTotal Earnings: HK$1.9tTotal Revenue: HK$8.5tTotal 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 2.5x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 4.8% per year over the last three years.
  • Meanwhile revenues for these companies have declined 8.6% 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 Market-1.48%
Financials-1.21%
Mortgage Finance0%0
Banks-0.80%
Diversified Financial-2.03%
Capital Markets-2.19%
Insurance-2.41%
Consumer Finance-5.52%
Industry PE
  • Investors are most optimistic about the Capital Markets industry even though it's trading below its 3-year average PE ratio of 28.9x.
    • Analysts are expecting annual earnings growth of 10.0%, which is lower than the prior year's growth of 92.5% per year.
  • Investors are most pessimistic about the Banks industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 5.9x.
Forecasted Growth
  • Analysts are most optimistic on the Consumer Finance industry, expecting annual earnings growth of 11% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Diversified Financial industry is expected to see its earnings grow by 2.8% 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
2388 BOC Hong Kong (Holdings)HK$48.164.4%
+HK$21.4b		43.5%PB1.4x
3988 Bank of ChinaHK$5.230.2%
+HK$3.2b		11.8%PB0.5x
1339 People's Insurance Company (Group) of ChinaHK$5.440.7%
+HK$1.8b		3.6%PE4.9x
165 China EverbrightHK$6.829.6%
+HK$1.0b		56.1%PS8.7x
9677 Weihai BankHK$2.792.6%
+HK$418.6m		-6.7%PB0.4x

Latest News

64
HK$3.66
Get Nice Holdings
7D
17.3%
1Y
25.3%
23
HK$14.14
Bank of East Asia
7D
0.8%
1Y
25.4%
1299
HK$86.05
AIA Group
7D
-1.8%
1Y
32.7%
2328
HK$14.78
PICC Property and Casualty
7D
-3.6%
1Y
-1.3%
Narrative Update • May 21

2328: Dividend Policy Will Support Future Returns Despite Reduced Fair Value Estimate

Analysts have adjusted their HK$ price target for PICC Property and Casualty to align with an updated fair value estimate of HK$20.77, reflecting revised assumptions for the discount rate, revenue growth, profit margin and future P/E. What's in the News On 29 April 2026, the Board appointed Zhang Daoming as President of PICC Property and Casualty, following his prior role as Temporary Responsible Officer and executive director.
388
HK$409.20
Hong Kong Exchanges and Clearing
7D
-1.7%
1Y
5.7%
Narrative Update • May 20

388: Dividend Strength And Bursa Malaysia Partnership Will Support Long Term Returns

Analysts have trimmed their Hong Kong Exchanges and Clearing price target slightly from HK$610.00 to about HK$602.08, reflecting updated assumptions for revenue growth, profit margins, and future P/E levels in their models. What's in the News Reported production volume of 189,572.36 tons for the first quarter of 2026 as part of its operating results update (Key Developments).
2628
HK$28.92
China Life Insurance
7D
-3.2%
1Y
83.5%
Narrative Update • May 18

2628: 2025 Final Dividend Will Support Future Upside Potential

Analysts have raised their Hong Kong dollar price target for China Life Insurance from about HK$35.32 to around HK$36.13, reflecting updated assumptions for revenue growth, profit margins, discount rate, and future P/E multiples. What's in the News Board meeting on 25 March 2026 to consider and approve the final results for the year ended 31 December 2025 and to review the recommendation of a final dividend, along with other business (company announcement).
3988
HK$5.23
Bank of China
7D
0.2%
1Y
11.8%
New Narrative • May 17

BOC is the most internationally oriented Chinese bank

INVESTMENT MEMORANDUM CENTRAL HUIJIN INVESTMENT LTD. 1.
1288
HK$5.92
Agricultural Bank of China
7D
-3.0%
1Y
16.8%
165
HK$6.82
China Everbright
7D
9.6%
1Y
56.1%
2799
HK$0.63
China CITIC Financial Asset Management
7D
-12.5%
1Y
-21.3%
1398
HK$6.85
Industrial and Commercial Bank of China
7D
-0.6%
1Y
20.4%
2388
HK$48.16
BOC Hong Kong (Holdings)
7D
4.4%
1Y
43.5%
Narrative Update • May 05

2388: Upgraded Assumptions Will Test Earnings Resilience And Dividend Sustainability

Analysts have adjusted their HK$39.90 price target for BOC Hong Kong (Holdings) to reflect updated assumptions on discount rate, revenue growth, profit margin and future P/E, following recent research that has become more constructive on the stock after a fresh upgrade from major houses. Analyst Commentary Recent research on BOC Hong Kong (Holdings) has turned more constructive after a fresh upgrade from Goldman Sachs, yet the tone across the Street still includes a cautious strand that focuses on execution risks, growth visibility and how much of the potential good news is already reflected in the HK$39.90 target.
1339
HK$5.44
People's Insurance Company (Group) of China
7D
0.7%
1Y
3.6%
Narrative Update • May 02

1339: Dividend Outlook And Higher Margins Will Drive Future Upside

Analysts have trimmed their price target on People's Insurance Company (Group) of China slightly to HK$7.50 from HK$7.51, citing updated assumptions around a lower discount rate, more moderate revenue growth, a higher profit margin, and a reduced future P/E multiple. What's in the News A board meeting is scheduled for March 26, 2026, to consider and approve the annual results for the year ended December 31, 2025, and to consider the payment of a final dividend, if any (Key Developments).
3328
HK$7.17
Bank of Communications
7D
-1.6%
1Y
0.7%
440
HK$42.98
Dah Sing Financial Holdings
7D
1.3%
1Y
48.7%
9677
HK$2.79
Weihai Bank
7D
2.6%
1Y
-6.7%