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Hong Kong (HSI) Market Analysis & Valuation
UpdatedDec 27, 2025
DataAggregated Company Financials
Companies2287
- 7D0.2%
- 3M-0.3%
- 1Y26.2%
- YTD29.1%
The Materials sector gained 3.4% while the market remained flat over the last week. More promisingly, the market is up 26% over the past year. Earnings are forecast to grow by 12% annually.
Market Valuation and Performance
Has the Hong Kong Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 27 Dec 2025 | HK$55.8t | HK$43.1t | HK$4.0t | 12.1x | 14.1x | 1.3x |
| Mon, 24 Nov 2025 | HK$55.8t | HK$42.6t | HK$3.9t | 12.1x | 14.2x | 1.3x |
| Wed, 22 Oct 2025 | HK$56.3t | HK$42.3t | HK$3.8t | 12.7x | 14.8x | 1.3x |
| Fri, 19 Sep 2025 | HK$57.5t | HK$43.4t | HK$4.0t | 12.4x | 14.5x | 1.3x |
| Sun, 17 Aug 2025 | HK$56.6t | HK$43.5t | HK$3.9t | 12.6x | 14.5x | 1.3x |
| Tue, 15 Jul 2025 | HK$54.1t | HK$43.6t | HK$3.9t | 11.6x | 13.8x | 1.2x |
| Thu, 12 Jun 2025 | HK$52.1t | HK$43.6t | HK$3.9t | 11.2x | 13.4x | 1.2x |
| Sat, 10 May 2025 | HK$48.8t | HK$42.8t | HK$3.8t | 11x | 12.9x | 1.1x |
| Mon, 07 Apr 2025 | HK$48.3t | HK$42.7t | HK$3.8t | 11x | 12.9x | 1.1x |
| Wed, 05 Mar 2025 | HK$47.0t | HK$43.2t | HK$3.5t | 10.4x | 13.4x | 1.1x |
| Fri, 31 Jan 2025 | HK$44.3t | HK$43.3t | HK$3.5t | 10x | 12.6x | 1x |
| Sun, 29 Dec 2024 | HK$45.0t | HK$42.6t | HK$3.6t | 10x | 12.3x | 1.1x |
| Tue, 26 Nov 2024 | HK$42.6t | HK$42.9t | HK$3.7t | 9.7x | 11.6x | 1x |
| Thu, 24 Oct 2024 | HK$45.1t | HK$43.4t | HK$3.6t | 10x | 12.6x | 1x |
| Sat, 21 Sep 2024 | HK$39.8t | HK$43.8t | HK$3.6t | 9x | 11x | 0.9x |
| Mon, 19 Aug 2024 | HK$39.9t | HK$43.1t | HK$3.5t | 9x | 11.3x | 0.9x |
| Wed, 17 Jul 2024 | HK$41.0t | HK$42.6t | HK$3.5t | 9.5x | 11.8x | 1x |
| Fri, 14 Jun 2024 | HK$41.3t | HK$43.2t | HK$3.4t | 9.6x | 12.1x | 1x |
| Sun, 12 May 2024 | HK$42.4t | HK$43.3t | HK$3.4t | 9.7x | 12.4x | 1x |
| Tue, 09 Apr 2024 | HK$39.1t | HK$43.3t | HK$3.4t | 9.1x | 11.4x | 0.9x |
| Thu, 07 Mar 2024 | HK$38.0t | HK$43.2t | HK$3.4t | 8.8x | 11.2x | 0.9x |
| Sat, 03 Feb 2024 | HK$35.8t | HK$44.3t | HK$3.3t | 8.6x | 10.7x | 0.8x |
| Mon, 01 Jan 2024 | HK$38.3t | HK$46.2t | HK$3.5t | 9.4x | 11x | 0.8x |
| Wed, 29 Nov 2023 | HK$38.7t | HK$45.7t | HK$3.5t | 9.1x | 11.1x | 0.8x |
| Fri, 27 Oct 2023 | HK$37.9t | HK$44.9t | HK$3.4t | 8.9x | 11.1x | 0.8x |
| Sun, 24 Sep 2023 | HK$40.0t | HK$45.0t | HK$3.4t | 9.2x | 11.6x | 0.9x |
| Tue, 22 Aug 2023 | HK$39.7t | HK$45.2t | HK$3.6t | 9.3x | 11.1x | 0.9x |
| Thu, 20 Jul 2023 | HK$41.3t | HK$45.7t | HK$3.7t | 9.5x | 11.3x | 0.9x |
| Sat, 17 Jun 2023 | HK$41.5t | HK$45.5t | HK$3.3t | 9.7x | 12.5x | 0.9x |
| Mon, 15 May 2023 | HK$43.9t | HK$47.3t | HK$3.8t | 9.8x | 11.7x | 0.9x |
| Wed, 12 Apr 2023 | HK$44.4t | HK$47.8t | HK$3.9t | 9.8x | 11.4x | 0.9x |
| Fri, 10 Mar 2023 | HK$43.2t | HK$47.2t | HK$4.2t | 9x | 10.4x | 0.9x |
| Sun, 05 Feb 2023 | HK$45.1t | HK$48.2t | HK$4.3t | 9x | 10.5x | 0.9x |
| Tue, 03 Jan 2023 | HK$42.2t | HK$47.3t | HK$4.2t | 8.7x | 10x | 0.9x |
Price to Earnings Ratio
10x
Current Market PE
- Investors are optimistic on the Hong Kong market, and appear confident in strong long term growth rates.
- The market is trading at a PE ratio of 14.1x which is higher than its 3-year average PE of 12.1x.
Past Earnings Growth
- The earnings for companies in the Hong Kong industry have declined 2.1% per year over the last three years.
- Revenues have also declined 3.0% per year.
- This means overall sales from these companies are declining and profits are subsequently falling as well.
Sector Trends
Which sectors have driven the changes within the Hong Kong Market?
| HK Market | 0.18% | |
| Materials | 3.36% | |
| Utilities | 1.29% | |
| Tech | 1.24% | |
| Consumer Staples | 1.07% | |
| Industrials | 0.81% | |
| Financials | 0.51% | |
| Consumer Discretionary | 0.37% | |
| Real Estate | 0.16% | |
| Energy | 0.041% | |
| Telecom | -1.45% | |
| Healthcare | -2.35% | |
Sector PE
- Investors favour the Healthcare sector the most for future growth even though it's trading below its 3-year average PE ratio of 152x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 30.1%, which is higher than its past year's earnings growth of 1.4% per year.
Forecasted Growth
- Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 30% over the next 5 years.
- This is better than its past earnings growth rate of 1.4% per year.
- In contrast, the Financials sector is expected to see its earnings grow by 2.4% 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 | Sector | |
|---|---|---|---|---|---|---|
| 981 Semiconductor Manufacturing International | HK$71.05 | 9.2% +HK$48.0b | 131.8% | PE118x | Tech | |
| 1288 Agricultural Bank of China | HK$5.61 | 2.2% +HK$42.0b | 27.2% | PB0.6x | Financials | |
| 2259 Zijin Gold International | HK$153.50 | 5.1% +HK$19.8b | n/a | PE67.2x | Materials | |
| 939 China Construction Bank | HK$7.56 | 0.9% +HK$18.3b | 16.8% | PB0.5x | Financials | |
| 9633 Nongfu Spring | HK$48.62 | 2.4% +HK$12.6b | 43.6% | PE36.5x | Consumer Staples |
