With China International Capital Corporation Limited (HKG:3908) It Looks Like You'll Get What You Pay For
Jun 10
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Hong Kong (HSI) Capital Markets Industry Analysis
UpdatedJun 18, 2025
DataAggregated Company Financials
Companies91
- 7D3.2%
- 3M4.3%
- 1Y63.1%
- YTD28.7%
In the last week, the Capital Markets industry is up 2.9%, with China CITIC Financial Asset Management up 14%. In the last 12 months, the industry was up 65%. Earnings are forecast to grow by 12% annually.
Industry Valuation and Performance
Has the Hong Kong Capital Markets Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 18 Jun 2025 | HK$1.3t | HK$172.3b | HK$39.6b | 23.4x | 31.9x | 7.3x |
| Fri, 16 May 2025 | HK$1.2t | HK$170.8b | HK$39.3b | 21x | 30.1x | 6.9x |
| Sun, 13 Apr 2025 | HK$1.1t | HK$162.1b | HK$34.1b | 20.5x | 30.9x | 6.5x |
| Tue, 11 Mar 2025 | HK$1.2t | HK$162.4b | HK$33.2b | 20.5x | 34.7x | 7.1x |
| Thu, 06 Feb 2025 | HK$1.0t | HK$160.9b | HK$32.0b | 18.9x | 32.6x | 6.5x |
| Sat, 04 Jan 2025 | HK$974.3b | HK$160.9b | HK$28.7b | 17.6x | 33.9x | 6.1x |
| Mon, 02 Dec 2024 | HK$1.0t | HK$162.1b | HK$28.8b | 20.9x | 36.4x | 6.5x |
| Wed, 30 Oct 2024 | HK$1.1t | HK$160.6b | HK$28.2b | 19x | 38.1x | 6.7x |
| Fri, 27 Sep 2024 | HK$918.8b | HK$162.7b | HK$28.4b | 15.6x | 32.4x | 5.6x |
| Sun, 25 Aug 2024 | HK$775.8b | HK$162.3b | HK$30.7b | 13.5x | 25.2x | 4.8x |
| Tue, 23 Jul 2024 | HK$793.4b | HK$159.6b | HK$29.8b | 15.5x | 26.7x | 5x |
| Thu, 20 Jun 2024 | HK$875.5b | HK$159.6b | HK$29.3b | 15.1x | 29.9x | 5.5x |
| Sat, 18 May 2024 | HK$947.0b | HK$160.2b | HK$29.3b | 11.2x | 32.3x | 5.9x |
| Mon, 15 Apr 2024 | HK$801.1b | HK$168.6b | HK$33.5b | 9.5x | 23.9x | 4.8x |
| Wed, 13 Mar 2024 | HK$889.7b | HK$160.7b | HK$35.1b | 9.3x | 25.3x | 5.5x |
| Fri, 09 Feb 2024 | HK$859.2b | HK$162.0b | HK$35.5b | 9.6x | 24.2x | 5.3x |
| Sun, 07 Jan 2024 | HK$907.1b | HK$163.7b | HK$34.6b | 10.5x | 26.2x | 5.5x |
| Tue, 05 Dec 2023 | HK$972.8b | HK$164.0b | HK$34.7b | 11.1x | 28x | 5.9x |
| Thu, 02 Nov 2023 | HK$934.0b | HK$173.7b | HK$33.2b | 10.4x | 28.1x | 5.4x |
| Sat, 30 Sep 2023 | HK$964.5b | HK$167.9b | HK$34.5b | 10.7x | 28x | 5.7x |
| Mon, 28 Aug 2023 | HK$1.0t | HK$182.8b | HK$35.1b | 10.9x | 28.6x | 5.5x |
| Wed, 26 Jul 2023 | HK$1.0t | HK$184.2b | HK$33.5b | 11.7x | 30.2x | 5.5x |
| Fri, 23 Jun 2023 | HK$982.9b | HK$183.3b | HK$35.3b | 12.4x | 27.8x | 5.4x |
| Sun, 21 May 2023 | HK$1.1t | HK$200.7b | HK$37.8b | 12.9x | 28x | 5.3x |
| Tue, 18 Apr 2023 | HK$1.1t | HK$199.8b | HK$34.7b | 12.8x | 31.8x | 5.5x |
| Thu, 16 Mar 2023 | HK$1.1t | HK$219.4b | HK$45.9b | 11.8x | 23.1x | 4.8x |
| Sat, 11 Feb 2023 | HK$1.1t | HK$220.6b | HK$46.1b | 13.8x | 23.9x | 5x |
| Mon, 09 Jan 2023 | HK$1.1t | HK$218.8b | HK$45.7b | 14.6x | 24x | 5x |
| Wed, 07 Dec 2022 | HK$1.1t | HK$214.9b | HK$44.4b | 15.4x | 23.9x | 4.9x |
| Fri, 04 Nov 2022 | HK$864.5b | HK$208.4b | HK$40.6b | 10.7x | 21.3x | 4.1x |
| Sun, 02 Oct 2022 | HK$892.3b | HK$217.3b | HK$40.3b | 9x | 22.1x | 4.1x |
| Tue, 30 Aug 2022 | HK$1.1t | HK$222.8b | HK$48.8b | 8.3x | 21.6x | 4.7x |
| Thu, 28 Jul 2022 | HK$1.1t | HK$238.0b | HK$57.2b | 9.5x | 19.7x | 4.7x |
| Sat, 25 Jun 2022 | HK$1.2t | HK$239.9b | HK$59.9b | 8.1x | 19.9x | 5x |
Price to Earnings Ratio
19.9x
Current Industry PE
- Investors are optimistic on the Hong Kong Capital Markets industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 32.0x which is higher than its 3-year average PE of 28.0x.
- The 3-year average PS ratio of 5.5x is lower than the industry's current PS ratio of 7.4x.
Past Earnings Growth
- The earnings for companies in the Capital Markets industry have declined 13% per year over the last three years,
- Revenues have also declined 10% per year.
- This means overall sales from these companies are declining and profits are subsequently falling as well.
Industry Trends
Which industries have driven the changes within the Hong Kong Financials industry?
| HK Market | 0.51% | |
| Financials | 1.96% | |
| Capital Markets | 3.17% | |
| Diversified Capital Markets | 9.52% | |
| Investment Banking and Brokerage | 5.96% | |
| Asset Management | 5.53% | |
| Financial Exchanges and Data | -0.28% | |
Industry PE
- Investors are most optimistic about the Financial Exchanges and Data industry, which is trading close to its 3-year average PE ratio of 37.3x.
- Analysts are expecting annual earnings growth of 8.5%, which is higher than its past year's earnings decline of 21.8% per year.
Forecasted Growth
- Analysts are most optimistic on the Asset Management industry, expecting annual earnings growth of 31% over the next 5 years.
- This is roughly in line with its past earnings growth rate.
- In contrast, the Financial Exchanges and Data industry is expected to see its earnings grow by 8.5% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| 2799 China CITIC Financial Asset Management | HK$1.08 | 6.9% +HK$5.6b | 200.0% | PE9.6x | |
| 1428 Bright Smart Securities & Commodities Group | HK$7.92 | 6.7% +HK$848.6m | 350.0% | PE23.7x | |
| 1456 Guolian Minsheng Securities | HK$3.93 | 3.1% +HK$681.7m | 23.2% | PE20.6x | |
| 165 China Everbright | HK$5.84 | 6.4% +HK$589.8m | 38.7% | PS27.6x | |
| 1709 DL Holdings Group | HK$3.25 | 10.2% +HK$445.0m | -28.4% | PE47.9x |
