Analysis Article • Sep 01
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Hong Kong (HSI) Capital Markets Industry Analysis
UpdatedSep 02, 2026
DataAggregated Company Financials
Companies90
- 7D1.7%
- 3M-0.8%
- 1Y-17.5%
- YTD-9.7%
In the last week, the Capital Markets industry is up 1.7%, with GoFintech Quantum Innovation up 8.4%. In the past year, the industry is down 17%. 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 |
|---|---|---|---|---|---|---|
| Wed, 02 Sep 2026 | HK$1.3t | HK$234.4b | HK$67.8b | 8.6x | 18.9x | 5.5x |
| Fri, 31 Jul 2026 | HK$1.3t | HK$206.7b | HK$66.6b | 13.6x | 19x | 6.1x |
| Sun, 28 Jun 2026 | HK$1.2t | HK$205.9b | HK$62.4b | 12.8x | 19.9x | 6x |
| Tue, 26 May 2026 | HK$1.3t | HK$209.5b | HK$62.5b | 14x | 21.3x | 6.3x |
| Thu, 23 Apr 2026 | HK$1.3t | HK$198.4b | HK$56.7b | 13.9x | 23.6x | 6.7x |
| Sat, 21 Mar 2026 | HK$1.3t | HK$210.7b | HK$61.6b | 16.5x | 20.7x | 6.1x |
| Mon, 16 Feb 2026 | HK$1.3t | HK$208.3b | HK$60.2b | 20.2x | 22.1x | 6.4x |
| Wed, 14 Jan 2026 | HK$1.4t | HK$206.4b | HK$59.8b | 20.6x | 23.7x | 6.9x |
| Fri, 12 Dec 2025 | HK$1.3t | HK$203.9b | HK$59.0b | 18.8x | 22.6x | 6.5x |
| Sun, 09 Nov 2025 | HK$1.4t | HK$201.3b | HK$58.0b | 22.7x | 23.8x | 6.9x |
| Tue, 07 Oct 2025 | HK$1.5t | HK$189.9b | HK$50.6b | 24.9x | 29.2x | 7.8x |
| Thu, 04 Sep 2025 | HK$1.5t | HK$191.1b | HK$50.5b | 27.5x | 29.1x | 7.7x |
| Sat, 02 Aug 2025 | HK$1.4t | HK$172.9b | HK$40.1b | 30.3x | 34.5x | 8x |
| Mon, 30 Jun 2025 | HK$1.3t | HK$172.7b | HK$40.3b | 24.7x | 32.8x | 7.7x |
| Wed, 28 May 2025 | HK$1.2t | HK$171.6b | HK$39.5b | 24.1x | 30.2x | 6.9x |
| Fri, 25 Apr 2025 | HK$1.1t | HK$162.1b | HK$34.1b | 20.5x | 31.9x | 6.7x |
| Sun, 23 Mar 2025 | HK$1.2t | HK$162.2b | HK$33.5b | 26.9x | 34.8x | 7.2x |
| Tue, 18 Feb 2025 | HK$1.1t | HK$161.0b | HK$32.0b | 20.1x | 35.2x | 7x |
| Thu, 16 Jan 2025 | HK$969.5b | HK$160.8b | HK$28.7b | 17.3x | 33.7x | 6x |
| Sat, 14 Dec 2024 | HK$1.1t | HK$161.4b | HK$28.7b | 20.2x | 37.3x | 6.6x |
| Mon, 11 Nov 2024 | HK$1.2t | HK$163.3b | HK$29.2b | 23.8x | 40.7x | 7.3x |
| Wed, 09 Oct 2024 | HK$1.2t | HK$161.9b | HK$28.3b | 20.6x | 42.8x | 7.5x |
| Fri, 06 Sep 2024 | HK$774.2b | HK$162.5b | HK$28.8b | 14.5x | 26.8x | 4.8x |
| Sun, 04 Aug 2024 | HK$791.2b | HK$161.6b | HK$30.1b | 16x | 26.3x | 4.9x |
| Tue, 02 Jul 2024 | HK$815.1b | HK$159.5b | HK$29.8b | 16x | 27.4x | 5.1x |
| Thu, 30 May 2024 | HK$886.2b | HK$160.0b | HK$29.3b | 10.2x | 30.2x | 5.5x |
| Sat, 27 Apr 2024 | HK$876.0b | HK$167.8b | HK$32.8b | 10.7x | 26.7x | 5.2x |
| Mon, 25 Mar 2024 | HK$867.9b | HK$159.9b | HK$33.1b | 8.8x | 26.2x | 5.4x |
| Wed, 21 Feb 2024 | HK$868.2b | HK$160.5b | HK$35.1b | 9.8x | 24.7x | 5.4x |
| Fri, 19 Jan 2024 | HK$841.3b | HK$162.9b | HK$34.2b | 10x | 24.6x | 5.2x |
| Sun, 17 Dec 2023 | HK$957.0b | HK$164.1b | HK$34.7b | 10.7x | 27.6x | 5.8x |
| Tue, 14 Nov 2023 | HK$990.5b | HK$174.1b | HK$33.2b | 10.7x | 29.8x | 5.7x |
| Thu, 12 Oct 2023 | HK$959.4b | HK$175.6b | HK$34.4b | 10.2x | 27.9x | 5.5x |
| Sat, 09 Sep 2023 | HK$998.1b | HK$169.8b | HK$33.6b | 11.1x | 29.7x | 5.9x |
Price to Earnings Ratio
29.7x
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 18.9x which is lower than its 3-year average PE of 28.0x.
- The 3-year average PS ratio of 6.3x is higher than the industry's current PS ratio of 5.5x.
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 11% 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 | 0.95% | |
| Financials | 4.71% | |
| Capital Markets | 1.69% | |
| Investment Banking and Brokerage | 5.80% | |
| Diversified Capital Markets | 5.16% | |
| Asset Management | -1.35% | |
| Financial Exchanges and Data | -2.82% | |
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 8.9%, which is lower than the prior year's growth of 10.7% per year.
Forecasted Growth
- Analysts are most optimistic on the Asset Management industry, expecting annual earnings growth of 38% 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 8.9% 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 | |
|---|---|---|---|---|---|
| 290 GoFintech Quantum Innovation | HK$1.75 | 8.4% +HK$1.4b | -18.2% | PS10.4x | |
| 165 China Everbright | HK$6.11 | 7.4% +HK$707.8m | -27.3% | PS12.4x | |
| 1476 Financial Street Securities | HK$1.25 | 5.9% +HK$182.3m | -38.1% | PE8.6x | |
| 1140 HK.AI Capital | HK$0.11 | 11.0% +HK$128.2m | 11.0% | PE0.2x | |
| 3887 HashKey Holdings | HK$2.77 | 0.9% +HK$69.2m | n/a | PS9.8x |