Analysis Article • Aug 21
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Hong Kong (HSI) Capital Markets Industry Analysis
UpdatedAug 24, 2026
DataAggregated Company Financials
Companies90
- 7D1.8%
- 3M-4.6%
- 1Y-22.1%
- YTD-10.4%
Over the last 7 days, the Capital Markets industry has risen 1.8%, driven by gains from Hong Kong Exchanges and Clearing of 3.6%. During this same period, the GoFintech Quantum Innovation underperformed, falling 18%. In the past year, the industry is down 22%. Earnings are forecast to grow by 9.8% 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 |
|---|---|---|---|---|---|---|
| Mon, 24 Aug 2026 | HK$1.3t | HK$212.7b | HK$69.5b | 12.3x | 18.4x | 6x |
| Wed, 22 Jul 2026 | HK$1.3t | HK$206.5b | HK$66.6b | 13.7x | 19.2x | 6.2x |
| Fri, 19 Jun 2026 | HK$1.2t | HK$206.5b | HK$62.6b | 12.4x | 19.5x | 5.9x |
| Sun, 17 May 2026 | HK$1.3t | HK$209.0b | HK$62.4b | 14.6x | 21.6x | 6.5x |
| Tue, 14 Apr 2026 | HK$1.3t | HK$198.5b | HK$57.8b | 12.3x | 22.9x | 6.6x |
| Thu, 12 Mar 2026 | HK$1.3t | HK$210.3b | HK$61.1b | 18.6x | 21.4x | 6.2x |
| Sat, 07 Feb 2026 | HK$1.3t | HK$207.5b | HK$60.0b | 18.9x | 22.1x | 6.4x |
| Mon, 05 Jan 2026 | HK$1.4t | HK$205.8b | HK$59.6b | 19.8x | 22.9x | 6.6x |
| Wed, 03 Dec 2025 | HK$1.3t | HK$203.7b | HK$58.8b | 20.1x | 22.8x | 6.6x |
| Fri, 31 Oct 2025 | HK$1.4t | HK$191.2b | HK$52.4b | 25.5x | 27.4x | 7.5x |
| Sun, 28 Sep 2025 | HK$1.4t | HK$189.5b | HK$50.5b | 23.3x | 27.8x | 7.4x |
| Tue, 26 Aug 2025 | HK$1.6t | HK$173.7b | HK$40.9b | 36.7x | 38x | 8.9x |
| Thu, 24 Jul 2025 | HK$1.5t | HK$173.8b | HK$40.3b | 31.3x | 36x | 8.3x |
| Sat, 21 Jun 2025 | HK$1.2t | HK$172.4b | HK$39.6b | 23.1x | 30.4x | 7x |
| Mon, 19 May 2025 | HK$1.2t | HK$170.9b | HK$39.3b | 21.8x | 29.9x | 6.9x |
| Wed, 16 Apr 2025 | HK$1.1t | HK$161.6b | HK$34.0b | 20.6x | 31.6x | 6.7x |
| Fri, 14 Mar 2025 | HK$1.2t | HK$162.7b | HK$33.3b | 20x | 34.6x | 7.1x |
| Sun, 09 Feb 2025 | HK$1.1t | HK$160.7b | HK$32.0b | 19.7x | 33.7x | 6.7x |
| Tue, 07 Jan 2025 | HK$971.9b | HK$160.8b | HK$28.7b | 17.6x | 33.8x | 6x |
| Thu, 05 Dec 2024 | HK$1.1t | HK$161.7b | HK$28.7b | 20.8x | 36.7x | 6.5x |
| Sat, 02 Nov 2024 | HK$1.1t | HK$164.5b | HK$29.3b | 19.8x | 36.2x | 6.4x |
| Mon, 30 Sep 2024 | HK$1.0t | HK$162.6b | HK$28.4b | 16x | 35.7x | 6.2x |
| Wed, 28 Aug 2024 | HK$774.5b | HK$162.5b | HK$30.8b | 13.3x | 25.1x | 4.8x |
| Fri, 26 Jul 2024 | HK$768.4b | HK$160.4b | HK$29.9b | 14.8x | 25.7x | 4.8x |
| Sun, 23 Jun 2024 | HK$859.0b | HK$159.7b | HK$29.3b | 15.1x | 29.3x | 5.4x |
| Tue, 21 May 2024 | HK$947.8b | HK$160.0b | HK$29.3b | 11.9x | 32.3x | 5.9x |
| Thu, 18 Apr 2024 | HK$796.2b | HK$168.4b | HK$33.3b | 10.6x | 23.9x | 4.7x |
| Sat, 16 Mar 2024 | HK$868.1b | HK$160.2b | HK$35.0b | 9.5x | 24.8x | 5.4x |
| Mon, 12 Feb 2024 | HK$860.9b | HK$161.2b | HK$35.3b | 9.8x | 24.4x | 5.3x |
| Wed, 10 Jan 2024 | HK$871.5b | HK$163.9b | HK$34.7b | 10.1x | 25.1x | 5.3x |
| Fri, 08 Dec 2023 | HK$953.4b | HK$163.8b | HK$34.7b | 11.1x | 27.5x | 5.8x |
| Sun, 05 Nov 2023 | HK$953.2b | HK$174.0b | HK$33.3b | 10.3x | 28.6x | 5.5x |
| Tue, 03 Oct 2023 | HK$964.8b | HK$167.9b | HK$34.5b | 10.7x | 28x | 5.7x |
| Thu, 31 Aug 2023 | HK$1.0t | HK$173.9b | HK$34.9b | 11.7x | 29.4x | 5.9x |
Price to Earnings Ratio
29.4x
Current Industry PE
- Investors are pessimistic on the Hong Kong Capital Markets industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 18.4x which is lower than its 3-year average PE of 28.1x.
- The industry is trading close to its 3-year average PS ratio of 6.3x.
Past Earnings Growth
- The earnings for companies in the Capital Markets industry have grown 26% per year over the last three years.
- Revenues for these companies have grown 7.0% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Hong Kong Financials industry?
| HK Market | 3.64% | |
| Financials | 4.81% | |
| Capital Markets | 1.77% | |
| Financial Exchanges and Data | 3.34% | |
| Asset Management | 0.70% | |
| Investment Banking and Brokerage | 0.58% | |
| Diversified Capital Markets | -0.30% | |
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 31.1x.
- Analysts are expecting annual earnings growth of 6.9%, which is lower than the prior year's growth of 137.3% per year.
Forecasted Growth
- Analysts are most optimistic on the Asset Management industry, expecting annual earnings growth of 18% over the next 5 years.
- This is better than its past earnings growth rate of 14% per year.
- In contrast, the Financial Exchanges and Data industry is expected to see its earnings grow by 6.9% 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 | |
|---|---|---|---|---|---|
| 388 Hong Kong Exchanges and Clearing | HK$417.80 | 2.9% +HK$14.6b | -9.7% | PE26.7x | |
| 2799 China CITIC Financial Asset Management | HK$0.63 | 6.8% +HK$3.2b | -46.1% | PE4.2x | |
| 6881 China Galaxy Securities | HK$7.67 | 0.9% +HK$710.7m | -38.7% | PE6.2x | |
| 1911 China Renaissance Holdings | HK$3.43 | 14.7% +HK$252.3m | -62.5% | PE16.6x | |
| 804 Pinestone Capital | HK$15.19 | 12.3% +HK$101.1m | 554.7% | PS40.7x |