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
Tue, 01 Sep 2026	HK$1.3t	HK$220.4b	HK$71.5b	8.6x	18.3x	5.9x
Thu, 30 Jul 2026	HK$1.3t	HK$206.5b	HK$66.6b	13.9x	19x	6.1x
Sat, 27 Jun 2026	HK$1.2t	HK$205.7b	HK$62.4b	12.8x	19.9x	6x
Mon, 25 May 2026	HK$1.3t	HK$209.5b	HK$62.5b	14x	21.2x	6.3x
Wed, 22 Apr 2026	HK$1.3t	HK$198.6b	HK$56.7b	13.3x	23.5x	6.7x
Fri, 20 Mar 2026	HK$1.3t	HK$210.3b	HK$61.4b	17.5x	21.1x	6.1x
Sun, 15 Feb 2026	HK$1.3t	HK$208.3b	HK$60.2b	20.2x	22.1x	6.4x
Tue, 13 Jan 2026	HK$1.4t	HK$206.4b	HK$59.8b	21.1x	23.7x	6.9x
Thu, 11 Dec 2025	HK$1.3t	HK$203.8b	HK$58.9b	19.3x	22.7x	6.6x
Sat, 08 Nov 2025	HK$1.4t	HK$201.3b	HK$58.0b	22.7x	23.9x	6.9x
Mon, 06 Oct 2025	HK$1.5t	HK$189.8b	HK$50.6b	24.1x	29.2x	7.8x
Wed, 03 Sep 2025	HK$1.5t	HK$191.1b	HK$50.5b	27.3x	29.7x	7.8x
Fri, 01 Aug 2025	HK$1.4t	HK$173.2b	HK$40.2b	33.4x	35.4x	8.2x
Sun, 29 Jun 2025	HK$1.3t	HK$172.7b	HK$40.3b	24.7x	32.8x	7.7x
Tue, 27 May 2025	HK$1.2t	HK$171.7b	HK$39.5b	24x	29.8x	6.9x
Thu, 24 Apr 2025	HK$1.1t	HK$162.1b	HK$34.1b	20.5x	32.1x	6.8x
Sat, 22 Mar 2025	HK$1.2t	HK$162.2b	HK$33.4b	28.6x	34.8x	7.2x
Mon, 17 Feb 2025	HK$1.1t	HK$161.2b	HK$32.0b	20.9x	34.8x	6.9x
Wed, 15 Jan 2025	HK$974.0b	HK$160.8b	HK$28.7b	17.1x	33.9x	6.1x
Fri, 13 Dec 2024	HK$1.1t	HK$161.6b	HK$28.7b	21.5x	38.5x	6.8x
Sun, 10 Nov 2024	HK$1.2t	HK$163.3b	HK$29.2b	23.8x	40.7x	7.3x
Tue, 08 Oct 2024	HK$1.3t	HK$162.4b	HK$28.3b	27.6x	46x	8x
Thu, 05 Sep 2024	HK$771.0b	HK$162.2b	HK$28.8b	14.9x	26.8x	4.8x
Sat, 03 Aug 2024	HK$787.3b	HK$160.9b	HK$30.0b	16x	26.2x	4.9x
Mon, 01 Jul 2024	HK$815.1b	HK$159.5b	HK$29.8b	16.1x	27.4x	5.1x
Wed, 29 May 2024	HK$893.5b	HK$160.0b	HK$29.3b	10.3x	30.5x	5.6x
Fri, 26 Apr 2024	HK$837.1b	HK$167.9b	HK$32.8b	10.9x	25.5x	5x
Sun, 24 Mar 2024	HK$867.9b	HK$161.0b	HK$33.2b	8.8x	26.1x	5.4x
Tue, 20 Feb 2024	HK$861.8b	HK$160.5b	HK$35.1b	9.6x	24.5x	5.4x
Thu, 18 Jan 2024	HK$833.2b	HK$163.0b	HK$34.2b	9.9x	24.4x	5.1x
Sat, 16 Dec 2023	HK$958.2b	HK$164.3b	HK$34.8b	10.7x	27.6x	5.8x
Mon, 13 Nov 2023	HK$986.5b	HK$174.1b	HK$33.2b	10.5x	29.7x	5.7x
Wed, 11 Oct 2023	HK$956.0b	HK$175.7b	HK$34.5b	10.3x	27.7x	5.4x
Fri, 08 Sep 2023	HK$995.9b	HK$170.1b	HK$33.7b	11.1x	29.6x	5.9x

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 18.3x which is lower than its 3-year average PE of 28.0x.

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 28% per year over the last three years.
Revenues for these companies have grown 9.0% 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	1.17%
Financials	3.53%
Capital Markets	3.10%
Diversified Capital Markets	6.85%
Investment Banking and Brokerage	4.48%
Financial Exchanges and Data	1.70%
Asset Management	-0.0086%

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 7.0%, 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.
However this is lower than its past earnings growth rate of 171% per year.

In contrast, the Financial Exchanges and Data industry is expected to see its earnings grow by 7.0% 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
3908 China International Capital	HK$22.48	9.1% +HK$9.1b	7.7%	PE7.2x
6066 CSC Financial	HK$12.26	6.6% +HK$5.9b	-11.4%	PE7.1x
6881 China Galaxy Securities	HK$8.07	5.3% +HK$4.4b	-25.9%	PE6x
290 GoFintech Quantum Innovation	HK$1.72	8.2% +HK$1.3b	-15.7%	PS10.2x
9636 JF SmartInvest Holdings	HK$28.84	6.1% +HK$771.3m	-61.1%	PE188.2x

Company

Last Price

Valuation

3908 China International Capital

HK$22.48

9.1%
+HK$9.1b

7.7%

PE7.2x

6066 CSC Financial

HK$12.26

6.6%
+HK$5.9b

-11.4%

PE7.1x

6881 China Galaxy Securities

HK$8.07

5.3%
+HK$4.4b

-25.9%

PE6x

290 GoFintech Quantum Innovation

HK$1.72

8.2%
+HK$1.3b

-15.7%

PS10.2x

9636 JF SmartInvest Holdings

HK$28.84

6.1%
+HK$771.3m

-61.1%

PE188.2x

HashKey Holdings Limited (SEHK:3887) commences an Equity Buyback Plan for 276,606,840 shares, representing 10% of its issued share capital. under the authorization approved on June 11, 2026.

HashKey Holdings Limited (SEHK:3887) commences share repurchases on August 28, 2026, under the program mandated by the shareholders in the Annual General Meeting held on June 11, 2026. As per the mandate, the company is authorized to repurchase up to 276,606,840 shares, representing 10% of its issued share capital. The repurchases will lead to an enhancement of the net asset value per share and/or earnings per share for the company. The repurchases will be made out of the funds legally available for such purpose in accordance with its Bye-Laws and the applicable laws of Cayman Islands. The authority shall expire at the earliest of the next Annual General Meeting, the date on which the next Annual General Meeting is required to be held or the date on which the authority is varied or revoked in a General Meeting. As of June 11, 2026, the company had 2,766,068,402 shares in issue. On June 11, 2026, the company initiated a Market Repurchase. Under the program, the company will repurchase up to HKD 100 million worth of its shares. The program will benefit the Company and create value to its Shareholders. The Board is of the view that the existing financial resources of the Group are sufficient to implement the share repurchase while maintaining a solid financial position. The program will run until the conclusion of the next annual general meeting of the Company,

Hong Kong (HSI) Capital Markets Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

New major risk - Dividend sustainability

New minor risk - Profit margin trend

New minor risk - Financial position

First half 2026 earnings released: HK$1.22 loss per share (vs HK$0.24 profit in 1H 2025)

First half 2026 earnings released: EPS: HK$0.71 (vs HK$0.11 in 1H 2025)

China International Capital Corporation Limited Just Beat Revenue Estimates By 56%

HashKey Holdings Limited (SEHK:3887) commences an Equity Buyback Plan for 276,606,840 shares, representing 10% of its issued share capital. under the authorization approved on June 11, 2026.

First half 2026 earnings released: EPS: CN¥0.077 (vs CN¥0.13 in 1H 2025)

Second quarter 2026 earnings released: EPS: CN¥0.38 (vs CN¥0.29 in 2Q 2025)

Second quarter 2026 earnings released: EPS: CN¥0.16 (vs CN¥0.11 in 2Q 2025)

First half dividend increased to HK$0.014

First half 2026 earnings released: EPS: HK$0.10 (vs HK$0.14 in 1H 2025)

Analysts Have Made A Financial Statement On Hong Kong Exchanges and Clearing Limited's (HKG:388) Half-Yearly Report

Now 22% overvalued

New minor risk - Insider selling

CSC Financial Co., Ltd. Announces Resignation of Yang Dong from Non-Executive Director and Committee, Effective July 24, 2026