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Hong Kong (HSI) Capital Markets Industry Analysis
UpdatedNov 06, 2025
DataAggregated Company Financials
Companies90
- 7D-6.2%
- 3M-3.5%
- 1Y29.3%
- YTD50.6%
Over the last 7 days, the Capital Markets industry has dropped 5.8%, driven by declines in China International Capital and Hong Kong Exchanges and Clearing of 11% and 2.0%, respectively. On the other hand LFG Investment Holdings is actually up 35%. This takes the industry's 12 month performance to a gain of 28%. Looking forward, earnings are forecast to grow by 10% 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 |
|---|---|---|---|---|---|---|
| Thu, 06 Nov 2025 | HK$1.4t | HK$198.8b | HK$56.2b | 23x | 24.5x | 6.9x |
| Sat, 04 Oct 2025 | HK$1.5t | HK$189.8b | HK$50.6b | 24.1x | 29.2x | 7.8x |
| Mon, 01 Sep 2025 | HK$1.5t | HK$191.2b | HK$50.5b | 28.3x | 30.3x | 8x |
| Wed, 30 Jul 2025 | HK$1.5t | HK$173.6b | HK$40.3b | 31.8x | 36.7x | 8.5x |
| Fri, 27 Jun 2025 | HK$1.3t | HK$172.6b | HK$39.7b | 26.2x | 33.4x | 7.7x |
| Sun, 25 May 2025 | HK$1.2t | HK$171.8b | HK$39.5b | 24x | 29.8x | 6.9x |
| Tue, 22 Apr 2025 | HK$1.1t | HK$162.0b | HK$34.1b | 20.5x | 31.6x | 6.7x |
| Thu, 20 Mar 2025 | HK$1.2t | HK$162.8b | HK$33.6b | 26.9x | 36.1x | 7.4x |
| Sat, 15 Feb 2025 | HK$1.1t | HK$161.0b | HK$32.0b | 20.9x | 34.8x | 6.9x |
| Mon, 13 Jan 2025 | HK$947.6b | HK$160.8b | HK$28.7b | 17.1x | 33x | 5.9x |
| Wed, 11 Dec 2024 | HK$1.1t | HK$161.8b | HK$28.7b | 21x | 38x | 6.7x |
| Fri, 08 Nov 2024 | HK$1.2t | HK$163.6b | HK$29.2b | 19.8x | 41.4x | 7.4x |
| Sun, 06 Oct 2024 | HK$1.2t | HK$161.7b | HK$28.2b | 23x | 43.9x | 7.7x |
| Tue, 03 Sep 2024 | HK$776.2b | HK$162.3b | HK$28.8b | 14.2x | 27x | 4.8x |
| Thu, 01 Aug 2024 | HK$801.5b | HK$160.6b | HK$30.0b | 16x | 26.8x | 5x |
| Sat, 29 Jun 2024 | HK$815.0b | HK$159.7b | HK$29.2b | 16x | 27.9x | 5.1x |
| Mon, 27 May 2024 | HK$892.4b | HK$160.1b | HK$29.3b | 10.1x | 30.4x | 5.6x |
| Wed, 24 Apr 2024 | HK$816.9b | HK$168.3b | HK$33.3b | 10.7x | 24.5x | 4.9x |
| Fri, 22 Mar 2024 | HK$876.9b | HK$160.1b | HK$35.0b | 9.8x | 25x | 5.5x |
| Sun, 18 Feb 2024 | HK$876.9b | HK$160.6b | HK$35.2b | 9.8x | 24.9x | 5.5x |
| Tue, 16 Jan 2024 | HK$870.2b | HK$163.3b | HK$34.5b | 9.9x | 25.2x | 5.3x |
| Thu, 14 Dec 2023 | HK$934.5b | HK$163.2b | HK$34.5b | 10.9x | 27.1x | 5.7x |
| Sat, 11 Nov 2023 | HK$986.8b | HK$174.1b | HK$33.2b | 10.5x | 29.7x | 5.7x |
| Mon, 09 Oct 2023 | HK$959.1b | HK$175.8b | HK$34.5b | 10.9x | 27.8x | 5.5x |
| Wed, 06 Sep 2023 | HK$1.0t | HK$170.6b | HK$34.3b | 11.1x | 29.4x | 5.9x |
| Fri, 04 Aug 2023 | HK$1.1t | HK$183.5b | HK$33.3b | 12.8x | 32.2x | 5.9x |
| Sun, 02 Jul 2023 | HK$966.8b | HK$182.3b | HK$33.1b | 11.9x | 29.2x | 5.3x |
| Tue, 30 May 2023 | HK$1.0t | HK$199.8b | HK$36.9b | 13.8x | 27.1x | 5x |
| Thu, 27 Apr 2023 | HK$1.0t | HK$199.9b | HK$36.2b | 12.8x | 28.9x | 5.2x |
| Sat, 25 Mar 2023 | HK$1.1t | HK$218.4b | HK$47.1b | 12.6x | 23x | 5x |
| Mon, 20 Feb 2023 | HK$1.1t | HK$218.9b | HK$45.7b | 12.2x | 23.4x | 4.9x |
| Wed, 18 Jan 2023 | HK$1.1t | HK$221.0b | HK$46.3b | 14x | 24.7x | 5.2x |
| Fri, 16 Dec 2022 | HK$1.1t | HK$214.9b | HK$44.4b | 14.5x | 23.7x | 4.9x |
| Sun, 13 Nov 2022 | HK$959.8b | HK$212.1b | HK$41.5b | 11.8x | 23.1x | 4.5x |
Price to Earnings Ratio
23.1x
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 24.6x which is lower than its 3-year average PE of 29.4x.
- The 3-year average PS ratio of 6.0x is lower than the industry's current PS ratio of 7.0x.
Past Earnings Growth
- The earnings for companies in the Capital Markets industry have grown 11% per year over the last three years, while revenues have remained mostly flat.
- This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.
Industry Trends
Which industries have driven the changes within the Hong Kong Financials industry?
| HK Market | -0.89% | |
| Financials | 0.26% | |
| Capital Markets | -6.25% | |
| Financial Exchanges and Data | -2.86% | |
| Asset Management | -4.21% | |
| Investment Banking and Brokerage | -8.87% | |
| Diversified Capital Markets | -10.93% | |
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 34.3x.
- Analysts are expecting annual earnings growth of 8.6%, which is lower than the prior year's growth of 32.3% per year.
Forecasted Growth
- Analysts are most optimistic on the Asset Management industry, expecting annual earnings growth of 25% over the next 5 years.
- This is better than its past earnings decline of 9.3% per year.
- In contrast, the Financial Exchanges and Data industry is expected to see its earnings grow by 8.6% 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$433.00 | 0.1% +HK$758.3m | 29.6% | PE31.8x | |
| 806 Value Partners Group | HK$2.63 | 6.9% +HK$310.5m | 38.4% | PE19.6x | |
| 585 Imagi International Holdings | HK$1.04 | 38.7% +HK$240.7m | 193.0% | PS28.9x | |
| 3938 LFG Investment Holdings | HK$1.07 | 28.9% +HK$117.0m | 494.4% | PS22.8x | |
| 8168 Amasse Capital Holdings | HK$0.11 | 52.8% +HK$45.8m | 233.3% | PS16x |
