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Hong Kong (HSI) Financials Sector Analysis

UpdatedApr 07, 2026
DataAggregated Company Financials
Companies187
  • 7D1.5%
  • 3M1.5%
  • 1Y35.3%
  • YTD1.1%

Agricultural Bank of China is up 2.0%, leading the way for the Financials industry, which has gained 1.5%. This means that the industry has gained 35% over the past year. As for the next few years, earnings are expected to grow by 5.2% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 07 Apr 2026HK$16.5tHK$6.4tHK$2.1t7.5x7.7x2.6x
Thu, 05 Mar 2026HK$16.0tHK$6.3tHK$2.1t9.6x7.6x2.5x
Sat, 31 Jan 2026HK$16.6tHK$6.3tHK$2.1t10.4x7.9x2.6x
Mon, 29 Dec 2025HK$16.9tHK$6.2tHK$2.1t10x8.1x2.7x
Wed, 26 Nov 2025HK$17.5tHK$6.2tHK$2.1t9.7x8.5x2.8x
Fri, 24 Oct 2025HK$17.0tHK$6.0tHK$2.0t11.5x8.7x2.8x
Sun, 21 Sep 2025HK$16.3tHK$6.2tHK$2.0t11.6x8x2.6x
Tue, 19 Aug 2025HK$16.9tHK$6.1tHK$2.0t12.5x8.4x2.8x
Thu, 17 Jul 2025HK$16.8tHK$6.1tHK$2.0t12x8.3x2.8x
Sat, 14 Jun 2025HK$15.1tHK$6.1tHK$2.0t10.2x7.5x2.5x
Mon, 12 May 2025HK$14.2tHK$6.0tHK$2.0t9.4x7.2x2.4x
Wed, 09 Apr 2025HK$13.1tHK$5.9tHK$1.9t7.8x6.7x2.2x
Fri, 07 Mar 2025HK$13.9tHK$6.5tHK$1.9t9.6x7.3x2.2x
Sun, 02 Feb 2025HK$13.4tHK$6.5tHK$1.9t9.2x7x2.1x
Tue, 31 Dec 2024HK$13.6tHK$6.3tHK$1.9t9.3x7.3x2.1x
Thu, 28 Nov 2024HK$12.8tHK$6.4tHK$1.9t9.7x6.8x2x
Sat, 26 Oct 2024HK$13.2tHK$6.4tHK$1.8t11x7.3x2.1x
Mon, 23 Sep 2024HK$11.8tHK$6.5tHK$1.8t8.3x6.4x1.8x
Wed, 21 Aug 2024HK$12.2tHK$6.3tHK$1.8t8.2x6.8x1.9x
Fri, 19 Jul 2024HK$11.7tHK$6.2tHK$1.8t8x6.6x1.9x
Sun, 16 Jun 2024HK$11.5tHK$6.2tHK$1.8t7.8x6.5x1.8x
Tue, 14 May 2024HK$11.9tHK$6.2tHK$1.8t8.1x6.7x1.9x
Thu, 11 Apr 2024HK$11.1tHK$6.3tHK$1.8t7.8x6.1x1.8x
Sat, 09 Mar 2024HK$11.2tHK$7.0tHK$1.8t7x6.3x1.6x
Mon, 05 Feb 2024HK$10.6tHK$6.8tHK$1.7t7.1x6.2x1.6x
Wed, 03 Jan 2024HK$11.3tHK$8.7tHK$1.9t7x6x1.3x
Fri, 01 Dec 2023HK$11.4tHK$8.7tHK$1.9t7.1x6.1x1.3x
Sun, 29 Oct 2023HK$11.4tHK$8.5tHK$1.8t7.1x6.2x1.3x
Tue, 26 Sep 2023HK$11.6tHK$8.5tHK$1.8t7.2x6.4x1.4x
Thu, 24 Aug 2023HK$11.4tHK$8.3tHK$1.8t7.9x6.2x1.4x
Sat, 22 Jul 2023HK$11.6tHK$8.3tHK$1.9t8.2x6.3x1.4x
Mon, 19 Jun 2023HK$12.6tHK$8.4tHK$1.9t7.8x6.7x1.5x
Wed, 17 May 2023HK$13.3tHK$8.6tHK$1.9t7.8x7x1.5x
Fri, 14 Apr 2023HK$12.4tHK$8.6tHK$1.9t7.3x6.5x1.4x
Price to Earnings Ratio

6.5x


Total Market Cap: HK$12.4tTotal Earnings: HK$1.9tTotal Revenue: HK$8.6tTotal Market Cap vs Earnings and Revenue0%0%0%
Hong Kong Financials Sector Price to Earnings3Y Average 7x202420252026
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 7.0x.
  • The 3-year average PS ratio of 2.0x is lower than the industry's current PS ratio of 2.6x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 3.9% per year over the last three years.
  • Meanwhile revenues for these companies have declined 9.4% 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 Market1.56%
Financials1.48%
Capital Markets2.11%
Diversified Financial1.97%
Banks1.44%
Insurance1.41%
Mortgage Finance0%0
Consumer Finance-0.64%
Industry PE
  • Investors are most optimistic about the Capital Markets industry even though it's trading below its 3-year average PE ratio of 29.2x.
    • Analysts are expecting annual earnings growth of 11.0%, which is lower than the prior year's growth of 85.4% per year.
  • Investors are most pessimistic about the Diversified Financial industry, which is trading close to its 3-year average of 7.7x.
Forecasted Growth
  • Analysts are most optimistic on the Consumer Finance industry, expecting annual earnings growth of 11% over the next 5 years.
  • This is better than its past earnings growth rate of 9.0% per year.
  • In contrast, the Diversified Financial industry is expected to see its earnings grow by 2.5% 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
1288 Agricultural Bank of ChinaHK$5.682.0%
+HK$38.5b		35.9%PB0.6x
1398 Industrial and Commercial Bank of ChinaHK$6.961.5%
+HK$35.6b		38.9%PB0.5x
3988 Bank of ChinaHK$5.061.8%
+HK$29.0b		21.9%PB0.5x
939 China Construction BankHK$8.450.7%
+HK$15.7b		35.9%PB0.5x
3328 Bank of CommunicationsHK$7.202.3%
+HK$14.1b		11.3%PB0.5x

Latest News

1508
HK$1.46
China Reinsurance (Group)
7D
-0.7%
1Y
75.9%

1508: Governance Changes And Higher Discount Rate Will Temper Fair Value Outlook

Analysts have reduced their HK$ price target on China Reinsurance (Group), citing updated assumptions that reflect a higher discount rate along with revised views on revenue growth, profit margins, and future P/E. What's in the News A board meeting is scheduled for 30 March 2026 to review annual results for the year ended 31 December 2025 and to consider a final dividend, along with other business on the agenda (company announcement).
388
HK$396.00
Hong Kong Exchanges and Clearing
7D
1.9%
1Y
32.6%

388: Cross Border Collaboration And Dividend Timetable Will Support Fair Value

Analysts have slightly reduced their price target for Hong Kong Exchanges and Clearing to around HK$430, reflecting updated assumptions on discount rate, revenue growth, profit margin and future P/E. Their overall view on the company remains broadly unchanged.
3678
HK$2.64
Soho Holly Futures
7D
-7.4%
1Y
22.8%
939
HK$8.45
China Construction Bank
7D
0.7%
1Y
35.9%

939: Governance Reshuffle And Lower Growth Assumptions Will Pressure Future Returns

Analysts have adjusted their price target for China Construction Bank to HK$7.67 from HK$7.54, reflecting updated assumptions on discount rates, revenue growth, profit margins, and future P/E expectations. What's in the News A board meeting is scheduled for Mar 27, 2026 to review and approve China Construction Bank's annual results for the year ended Dec 31, 2025, and to consider dividend payments (Key Developments).
3988
HK$5.06
Bank of China
7D
1.8%
1Y
21.9%

3988: Dividend Policy And Margin Outlook Will Support Higher Future Returns

Analysts have lifted their HK$ fair value estimate for Bank of China from about HK$6.51 to around HK$6.71, reflecting updated assumptions that include a slightly lower discount rate, adjusted revenue growth expectations, a higher profit margin outlook, and a more compressed future P/E. What's in the News The board has recommended a final dividend on ordinary shares for 2025 of RMB 1.169 per 10 shares before tax, subject to shareholder approval, with payment to eligible A and H share investors after the register closes on 9 July 2026 (Key Developments).
1398
HK$6.96
Industrial and Commercial Bank of China
7D
1.5%
1Y
38.9%

1398: Upcoming Governance Plans And Dividend Timetable Will Support Preference Shareholder Returns

Analysts have nudged their HK$ price target for Industrial and Commercial Bank of China slightly higher, citing updated assumptions that combine a marginally lower discount rate with stable revenue growth expectations, a modestly stronger profit margin, and a small adjustment to the projected future P/E multiple. What's in the News A board meeting will be held on Feb 13, 2026 to consider the 2026 inclusive finance business operation plan, the 2026 fixed asset investment budget, and the internal audit plan for 2026 (company event filing).
1339
HK$5.39
People's Insurance Company (Group) of China
7D
-0.2%
1Y
41.1%

1339: Fair Outlook Will Depend On Dividend Continuity And Margin Discipline

Analysts have trimmed their HK$ price target for People's Insurance Company (Group) of China, reflecting updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E. What's in the News Proposed final ordinary dividend of RMB 0.145 per share for the year ended 31 December 2025, with payment scheduled for 28 August 2026, subject to approvals (Key Developments).
863
HK$13.34
OSL Group
7D
-4.7%
1Y
43.0%

Stablecoin Adoption And AI Payments Will Reshape Global Transaction Flows Over Time

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1299
HK$86.15
AIA Group
7D
1.5%
1Y
62.1%

1299: Share Buybacks And Higher Dividend Will Support Future Upside Potential

Analysts have raised their price target on AIA Group from about HK$100.40 to roughly HK$103.42, citing updated assumptions that now factor in revenue growth of 3.45%, a profit margin of 32.14% and a forward P/E of 17.80x. What's in the News The Board of Directors authorized a share buyback plan on March 19, 2026, as part of AIA Group Limited's capital management approach (Key Developments).
6066
HK$10.29
CSC Financial
7D
-0.7%
1Y
26.3%
1288
HK$5.68
Agricultural Bank of China
7D
2.0%
1Y
35.9%

1288: Lower Profitability Outlook Will Likely Keep Shares Under Pressure

Analysts have slightly reduced their HK$ price target for Agricultural Bank of China, citing updated assumptions that include a revised fair value estimate, an adjusted discount rate, higher projected revenue growth, a lower profit margin outlook, and a reduced future P/E multiple. What's in the News Board meeting scheduled for Mar 30, 2026 to review and approve the annual results for the year ended Dec 31, 2025; to consider a final dividend and the 2025 Profit Distribution Plan; to review changes to the Audit Committee membership; and to consider a proposal to convene the 2026 First Extraordinary Shareholders' Meeting (Key Developments).
2799
HK$0.77
China CITIC Financial Asset Management
7D
-2.5%
1Y
18.5%
2016
HK$2.45
China Zheshang Bank
7D
-1.2%
1Y
1.2%
3328
HK$7.20
Bank of Communications
7D
2.3%
1Y
11.3%
2628
HK$25.00
China Life Insurance
7D
1.6%
1Y
93.8%
8279
HK$0.59
AGTech Holdings
7D
-3.3%
1Y
210.5%