Hong Kong (HSI) Capital Markets Industry Analysis

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
Thu, 09 Jul 2026	HK$1.3t	HK$205.6b	HK$66.3b	13.2x	19x	6.1x
Sat, 06 Jun 2026	HK$1.3t	HK$206.4b	HK$62.6b	12.8x	20x	6.1x
Mon, 04 May 2026	HK$1.3t	HK$207.4b	HK$61.8b	14.5x	21.8x	6.5x
Wed, 01 Apr 2026	HK$1.3t	HK$194.1b	HK$57.9b	14.6x	21.6x	6.4x
Fri, 27 Feb 2026	HK$1.3t	HK$210.0b	HK$60.7b	19x	22.1x	6.4x
Sun, 25 Jan 2026	HK$1.4t	HK$206.6b	HK$59.8b	19.6x	22.9x	6.6x
Tue, 23 Dec 2025	HK$1.4t	HK$207.3b	HK$59.3b	18.7x	22.9x	6.6x
Thu, 20 Nov 2025	HK$1.3t	HK$201.8b	HK$58.1b	20.7x	23.2x	6.7x
Sat, 18 Oct 2025	HK$1.4t	HK$189.4b	HK$50.5b	23x	27.8x	7.4x
Mon, 15 Sep 2025	HK$1.5t	HK$189.7b	HK$50.4b	24.8x	29.4x	7.8x
Wed, 13 Aug 2025	HK$1.4t	HK$173.4b	HK$40.2b	32.9x	35.6x	8.3x
Fri, 11 Jul 2025	HK$1.4t	HK$173.6b	HK$40.3b	25.9x	34.3x	8x
Sun, 08 Jun 2025	HK$1.2t	HK$172.1b	HK$39.6b	21.7x	30.9x	7.1x
Tue, 06 May 2025	HK$1.1t	HK$168.7b	HK$38.9b	20.9x	28.6x	6.6x
Thu, 03 Apr 2025	HK$1.1t	HK$162.7b	HK$34.4b	23.5x	33.4x	7.1x
Sat, 01 Mar 2025	HK$1.1t	HK$162.3b	HK$33.1b	21x	34.6x	7.1x
Mon, 27 Jan 2025	HK$1.0t	HK$161.4b	HK$32.0b	17.8x	32.7x	6.5x
Wed, 25 Dec 2024	HK$1.0t	HK$161.2b	HK$28.8b	18.6x	36.2x	6.5x
Fri, 22 Nov 2024	HK$1.1t	HK$162.4b	HK$29.0b	18.6x	37.3x	6.7x
Sun, 20 Oct 2024	HK$1.1t	HK$160.9b	HK$28.1b	19x	38.7x	6.8x
Tue, 17 Sep 2024	HK$771.8b	HK$161.3b	HK$28.3b	14x	27.3x	4.8x
Thu, 15 Aug 2024	HK$781.3b	HK$161.8b	HK$30.5b	15.2x	25.6x	4.8x
Sat, 13 Jul 2024	HK$799.7b	HK$159.8b	HK$29.8b	15.4x	26.8x	5x
Mon, 10 Jun 2024	HK$871.0b	HK$160.0b	HK$29.3b	15.1x	29.7x	5.4x
Wed, 08 May 2024	HK$901.8b	HK$160.7b	HK$29.4b	10.2x	30.6x	5.6x
Fri, 05 Apr 2024	HK$827.8b	HK$168.3b	HK$33.3b	10.5x	24.9x	4.9x
Sun, 03 Mar 2024	HK$881.7b	HK$160.4b	HK$35.0b	9.9x	25.2x	5.5x
Tue, 30 Jan 2024	HK$878.7b	HK$163.0b	HK$34.2b	10.1x	25.7x	5.4x
Thu, 28 Dec 2023	HK$916.5b	HK$163.5b	HK$34.7b	10.4x	26.4x	5.6x
Sat, 25 Nov 2023	HK$1.0t	HK$164.8b	HK$33.1b	11.1x	30.3x	6.1x
Mon, 23 Oct 2023	HK$952.2b	HK$176.1b	HK$35.1b	10.5x	27.1x	5.4x
Wed, 20 Sep 2023	HK$969.8b	HK$166.2b	HK$34.3b	10.7x	28.2x	5.8x
Fri, 18 Aug 2023	HK$1.0t	HK$183.0b	HK$34.1b	11.2x	30.1x	5.6x
Sun, 16 Jul 2023	HK$989.4b	HK$184.3b	HK$33.5b	11.7x	29.5x	5.4x

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 19.0x which is lower than its 3-year average PE of 28.6x.

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 3.7% 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	3.43%
Financials	4.42%
Capital Markets	2.48%
Financial Exchanges and Data	4.54%
Diversified Capital Markets	3.70%
Asset Management	1.41%
Investment Banking and Brokerage	1.07%

Industry PE

Investors are most optimistic about the Financial Exchanges and Data industry even though it's trading below its 3-year average PE ratio of 31.4x.

Analysts are expecting annual earnings growth of 7.3%, which is lower than the prior year's growth of 139.8% 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 7.3% 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$380.40	3.5% +HK$16.2b	-8.0%	PE25.5x
290 GoFintech Quantum Innovation	HK$2.37	19.7% +HK$4.0b	37.8%	PS14.1x
3908 China International Capital	HK$22.04	3.8% +HK$3.9b	20.4%	PE8.7x
6066 CSC Financial	HK$12.27	2.9% +HK$2.7b	13.2%	PE8x
1141 CMBC Capital Holdings	HK$4.73	9.7% +HK$460.7m	585.5%	PE34.3x

Company

Last Price

Valuation

388 Hong Kong Exchanges and Clearing

HK$380.40

3.5%
+HK$16.2b

-8.0%

PE25.5x

290 GoFintech Quantum Innovation

HK$2.37

19.7%
+HK$4.0b

37.8%

PS14.1x

3908 China International Capital

HK$22.04

3.8%
+HK$3.9b

20.4%

PE8.7x

6066 CSC Financial

HK$12.27

2.9%
+HK$2.7b

13.2%

PE8x

1141 CMBC Capital Holdings

HK$4.73

9.7%
+HK$460.7m

585.5%

PE34.3x

OSL Group Limited Announces Board and Committee Changes, Effective June 26, 2026

OSL Group Limited held its Annual General Meeting on June 26, 2026. With effect from the conclusion of the AGM: Mr. Jia Hang (Mr. Jia) retired as an Independent Non-executive Director (INED) of the Company and ceased to be the member of each of Audit Committee, Nomination Committee, Remuneration Committee and Risk Management Committee of the Company; and Mr. Zhao Yichen William (Mr. Zhao) has become an INED of the Company and has been appointed by the Board as a member of each of Audit Committee, Nomination Committee, Remuneration Committee and Risk Management Committee of the Company. Mr. Zhao Yichen William, aged 37, is currently Senior Partner at BAI Capital. With over 14 years of experience in global capital markets and venture capital, Mr. Zhao is a seasoned investor specializing in the fintech sector. From 2011 to 2015, he worked in the investment banking divisions of J.P. Morgan and UBS Securities, developing extensive expertise in cross-border capital markets, IPOs, M&A, and debt financing. After joining BAI Capital in 2015, he successively served as Investment Manager, Vice President, and Managing Director before being promoted to Partner in 2022. He currently oversees the fund's investment strategies and team management in global fintech space. Throughout his career, Mr. Zhao has successfully invested and guided multiple fintech portfolio companies to their IPOs, including landmark investments such as Yixin Group, Linklogis, and LexinFintech, and also global fintech unicorns like Opay and Stori. As a seasoned fintech investor, he empowers companies through capital, strategy, and management, actively driving strategic development while ensuring corporate governance and compliance. Recognized for his significant industry influence, he was named to the 2025 Forbes China Top 100 Outstanding Returnees and the Top 100 Youth Leaders in the Investment Industry, and Caijing Magazine's Global Chinese Venture Capitalist. Mr. Zhao holds a bachelor degree of Mathematics in Actuarial Science from the University of Waterloo, Canada. Mr. Zhao has entered into a director's appointment letter with the Company. There is no fixed term for Mr. Zhao's appointment, and he is subject to retirement by rotation and re- election at annual general meetings of the Company in accordance with the articles of association of the Company. The total remuneration of Mr. Zhao is HK$700,000 per annum which has been approved by the Remuneration Committee and the Board (and is subject to review from time to time) and is determined by reference to his experience, duties and responsibilities within the Company and the prevailing market conditions. As at the date of this announcement, save as disclosed above, Mr. Zhao (i) does not hold any other position in the Company or other subsidiaries; (ii) did not hold directorship in other listed companies in Hong Kong or overseas in the last three years; (iii) does not have any relationship with any Directors, senior management or substantial or controlling Shareholders of the Company; and (iv) does not have any interest in the securities of the Company and its associated corporations within the meaning under Part XV of the Securities and Futures Ordinance. Mr. Jia Hang, who retired as an INED of the Company as abovementioned, has ceased to be the member of each of Audit Committee, Nomination Committee, Remuneration Committee and Risk Management Committee of the Company; and Mr. Zhao Yichen William, who has become an INED of the Company as abovementioned, has been appointed by the Board as a member of each of Audit Committee, Nomination Committee, Remuneration Committee and Risk Management Committee of the Company.

Hong Kong (HSI) Capital Markets Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

Less than half of directors are independent

GoFintech Quantum Innovation Sees Major Stake Increase by Dr. Liu Zhiwei

China Galaxy Securities Raises 5.8 Billion Yuan in New Tranche of 2026 Bonds

Now 21% overvalued

Now 21% overvalued

Now 21% overvalued after recent price rise

China International Capital Corporation Limited to Report First Half, 2026 Results on Aug 31, 2026

Guolian Minsheng Securities Co., Ltd. to Report First Half, 2026 Results on Aug 29, 2026

CSC Financial Co., Ltd. to Report First Half, 2026 Results on Aug 19, 2026

Investor sentiment improves as stock rises 18%

Investor sentiment improves as stock rises 44%

OSL Group Limited Announces Board and Committee Changes, Effective June 26, 2026

Upcoming dividend of CN¥0.028 per share

China CITIC Financial Asset Management Co., Ltd. Elects Chen Zihao as Non-Executive Director

Upcoming dividend of HK$0.05 per share

Imagi International Holdings Limited, Annual General Meeting, Jun 25, 2026