Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Hong Kong (HSI) Financials Sector Analysis

UpdatedFeb 21, 2026
DataAggregated Company Financials
Companies184
  • 7D0.6%
  • 3M1.5%
  • 1Y24.1%
  • YTD1.2%

In the last week, the Financials industry is flat overall, with Guolian Minsheng Securities standing out by going down 8.5%. The past year has been better, since the industry has gained 24% in that time. Looking forward, earnings are forecast to grow by 2.6% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 21 Feb 2026HK$16.4tHK$6.3tHK$2.1t10.2x7.7x2.6x
Mon, 19 Jan 2026HK$16.9tHK$6.3tHK$2.1t10x8x2.7x
Wed, 17 Dec 2025HK$16.6tHK$6.2tHK$2.1t9.7x8x2.7x
Fri, 14 Nov 2025HK$17.8tHK$6.2tHK$2.1t10.3x8.6x2.9x
Sun, 12 Oct 2025HK$16.4tHK$6.2tHK$2.0t11.5x8.1x2.6x
Tue, 09 Sep 2025HK$16.8tHK$6.2tHK$2.0t10.8x8.3x2.7x
Thu, 07 Aug 2025HK$16.8tHK$6.1tHK$2.0t12.3x8.4x2.8x
Sat, 05 Jul 2025HK$16.6tHK$6.1tHK$2.0t9.7x8.2x2.7x
Mon, 02 Jun 2025HK$14.6tHK$6.1tHK$2.0t9.5x7.3x2.4x
Wed, 30 Apr 2025HK$14.0tHK$5.9tHK$2.0t8.8x7.1x2.4x
Fri, 28 Mar 2025HK$13.9tHK$6.0tHK$2.0t10x7.1x2.3x
Sun, 23 Feb 2025HK$13.8tHK$6.5tHK$1.9t9.8x7.3x2.1x
Tue, 21 Jan 2025HK$12.9tHK$6.4tHK$1.9t9.1x6.9x2x
Thu, 19 Dec 2024HK$13.2tHK$6.4tHK$1.9t9.4x7x2.1x
Sat, 16 Nov 2024HK$12.7tHK$6.4tHK$1.9t10x6.7x2x
Mon, 14 Oct 2024HK$13.3tHK$6.4tHK$1.8t10.6x7.3x2.1x
Wed, 11 Sep 2024HK$11.6tHK$6.4tHK$1.8t8.3x6.4x1.8x
Fri, 09 Aug 2024HK$11.5tHK$6.3tHK$1.8t8.1x6.4x1.8x
Sun, 07 Jul 2024HK$11.5tHK$6.2tHK$1.8t7.5x6.5x1.9x
Tue, 04 Jun 2024HK$11.8tHK$6.2tHK$1.8t8x6.6x1.9x
Thu, 02 May 2024HK$11.5tHK$6.2tHK$1.8t7.7x6.5x1.8x
Sat, 30 Mar 2024HK$10.8tHK$6.3tHK$1.8t7.5x5.9x1.7x
Mon, 26 Feb 2024HK$11.4tHK$7.0tHK$1.8t6.9x6.4x1.6x
Wed, 24 Jan 2024HK$10.2tHK$7.0tHK$1.8t7x5.7x1.5x
Fri, 22 Dec 2023HK$11.1tHK$8.7tHK$1.9t7x5.9x1.3x
Sun, 19 Nov 2023HK$11.5tHK$8.6tHK$1.9t7.4x6.2x1.3x
Tue, 17 Oct 2023HK$11.9tHK$8.5tHK$1.8t7.4x6.5x1.4x
Thu, 14 Sep 2023HK$11.5tHK$8.6tHK$1.8t7.5x6.2x1.3x
Sat, 12 Aug 2023HK$11.8tHK$8.3tHK$1.8t8.4x6.4x1.4x
Mon, 10 Jul 2023HK$11.8tHK$8.3tHK$1.8t7.7x6.4x1.4x
Wed, 07 Jun 2023HK$12.6tHK$8.4tHK$1.9t7.6x6.7x1.5x
Fri, 05 May 2023HK$13.4tHK$8.7tHK$1.9t8.2x6.9x1.5x
Sun, 02 Apr 2023HK$12.1tHK$8.5tHK$1.9t7.4x6.3x1.4x
Tue, 28 Feb 2023HK$12.0tHK$8.6tHK$2.0t6.9x6.1x1.4x
Price to Earnings Ratio

6.1x


Total Market Cap: HK$12.0tTotal Earnings: HK$2.0tTotal 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 optimistic on the Hong Kong Financials industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 7.7x which is higher than its 3-year average PE 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 2.5% per year over the last three years.
  • Meanwhile revenues for these companies have declined 9.6% 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 Market0.35%
Financials0.61%
Diversified Financial1.82%
Insurance1.54%
Banks0.37%
Capital Markets0.32%
Consumer Finance0.10%
Mortgage Finance0%0
Industry PE
  • Investors are most optimistic about the Capital Markets industry even though it's trading below its 3-year average PE ratio of 29.3x.
    • Analysts are expecting annual earnings growth of 10.0%, which is lower than the prior year's growth of 96.4% 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 5.7x.
Forecasted Growth
  • Analysts are most optimistic on the Capital Markets industry, expecting annual earnings growth of 10.0% over the next 5 years.
  • However this is lower than its past earnings growth rate of 96% per year.
  • In contrast, the Insurance industry is expected to see its earnings decline by 6.8% 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
1299 AIA GroupHK$82.302.5%
+HK$21.0b		41.9%PE18.3x
939 China Construction BankHK$8.041.0%
+HK$20.9b		19.5%PB0.5x
2628 China Life InsuranceHK$33.561.5%
+HK$13.6b		120.8%PE4.9x
1339 People's Insurance Company (Group) of ChinaHK$6.752.9%
+HK$8.4b		67.1%PE5x
3988 Bank of ChinaHK$4.670.4%
+HK$6.4b		7.4%PB0.4x

Latest News

1339
HK$6.75
People's Insurance Company (Group) of China
7D
2.9%
1Y
67.1%

1339: Fairly Valued Outlook Will Rely On Margin Resilience And Lower Discount Rate

Analysts have lifted their HK$ price target for People's Insurance Company (Group) of China to reflect a fair value revision from HK$4.97 to HK$7.04, supported by updated assumptions around the discount rate, revenue growth, profit margin, and future P/E. Valuation Changes Fair Value: HK$4.97 to HK$7.04, indicating a higher assessed valuation level in the latest update.
1299
HK$82.30
AIA Group
7D
2.5%
1Y
41.9%

1299: Higher Future P/E Multiple Will Support Upside Potential

Analysts have slightly raised their fair value estimate for AIA Group from HK$99.80 to HK$100.20, citing updated assumptions on the discount rate, revenue trends, profit margin, and a higher future P/E multiple. Valuation Changes Fair Value: HK$99.80 to HK$100.20, a very small upward adjustment in the modelled estimate.
1456
HK$4.82
Guolian Minsheng Securities
7D
-8.5%
1Y
17.8%
3988
HK$4.67
Bank of China
7D
0.4%
1Y
7.4%
6196
HK$1.03
Bank of Zhengzhou
7D
-8.0%
1Y
4.0%
388
HK$407.80
Hong Kong Exchanges and Clearing
7D
0.6%
1Y
16.2%
2628
HK$33.56
China Life Insurance
7D
1.5%
1Y
120.8%

2628: Future Agreements And Stable Metrics Will Support Measured Shareholder Outcomes

Analysts have raised their fair value estimate for China Life Insurance from roughly ¥31.06 to about ¥32.70, citing updated assumptions for discount rates, revenue growth, profit margins, and future P/E levels. What's in the News China Life Insurance has scheduled a special or extraordinary shareholders meeting for December 30, 2025, at 09:30 China Standard Time at the Multi function Hall, 2/F, Block A, China Life Plaza, 16 Financial Street, Xicheng District, Beijing (Key Developments).
1471
HK$28.82
Zhongmiao Holdings (Qingdao)
7D
-9.1%
1Y
132.8%
2328
HK$16.51
PICC Property and Casualty
7D
-0.4%
1Y
24.9%

2328: Fair Outlook Will Rely On Reinsurance Frameworks And Dividend Support

Analysts have nudged their fair value estimate for PICC Property and Casualty to about ¥15.74 per share from roughly ¥15.72, reflecting updated views on discount rate assumptions, slightly higher projected revenue growth and profit margins, and a modestly lower future P/E multiple. What's in the News PICC Property and Casualty signed a one year Reinsurance Framework Agreement with PICC Reinsurance, effective from 1 January 2026 to 31 December 2026.
1508
HK$1.61
China Reinsurance (Group)
7D
-1.8%
1Y
73.1%

1508: Governance Overhaul And Tai Po Fire Support Will Pressure Shares

Analysts have raised their price target for China Reinsurance (Group), citing a higher assessed fair value, a lower discount rate of 8.05%, and updated assumptions for revenue growth, a profit margin of 11.23%, and a future P/E of 5.13x as key drivers of the change. What's in the News A board meeting is scheduled for January 30, 2026 to consider the nomination of Mr. Lyu Zhi as a non executive director candidate for the fifth session of the board, along with other matters (Board Meeting).
939
HK$8.04
China Construction Bank
7D
1.0%
1Y
19.5%

939: Fair Outlook Will Balance Higher Profitability Assumptions And Governance Developments

Narrative Update: China Construction Bank Analysts have raised their fair value estimate for China Construction Bank from HK$6.44 to HK$7.44, pointing to updated assumptions for revenue growth, profit margin, and future P/E as the key drivers of this change. What's in the News A board meeting is scheduled for December 23, 2025 to review the 2024 remuneration distribution and settlement plans for directors and senior management, and to consider the nomination of Shi Jian to a board special committee and the appointment of Tang Shuo as executive vice president (Key Developments).
2388
HK$43.78
BOC Hong Kong (Holdings)
7D
1.2%
1Y
61.3%

2388: Connected Transaction Review And New Agreement Will Anchor Forward P/E Outlook

Analysts have kept their fair value estimate for BOC Hong Kong (Holdings) steady at HK$46.00, with only minor tweaks to inputs such as the discount rate, revenue growth, profit margin and future P/E assumptions shaping this unchanged target. What's in the News BOC Hong Kong (Holdings) flagged that the applicable percentage ratios for its Investment and Referral Connected Transactions and Inter-bank Connected Transactions are 5% or more, which means these fall under non-exempt continuing connected transactions under Chapter 14A of the Listing Rules and trigger reporting, annual review, announcement and independent shareholders' approval requirements (Key Developments).
1963
HK$7.76
Bank of Chongqing
7D
-1.6%
1Y
25.2%
1788
HK$2.86
Guotai Junan International Holdings
7D
-3.1%
1Y
142.4%
2799
HK$0.82
China CITIC Financial Asset Management
7D
-1.2%
1Y
10.8%

China CITIC Financial Asset Management Co., Ltd.'s (HKG:2799) Business And Shares Still Trailing The Market

Jan 09
China CITIC Financial Asset Management Co., Ltd.'s (HKG:2799) Business And Shares Still Trailing The Market
290
HK$3.03
GoFintech Quantum Innovation
7D
16.5%
1Y
152.5%

After Leaping 35% GoFintech Quantum Innovation Limited (HKG:290) Shares Are Not Flying Under The Radar

Dec 04
After Leaping 35% GoFintech Quantum Innovation Limited (HKG:290) Shares Are Not Flying Under The Radar