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Hong Kong (HSI) Market Analysis & Valuation
UpdatedJan 20, 2026
DataAggregated Company Financials
Companies2298
- 7D-0.03%
- 3M0.3%
- 1Y32.8%
- YTD1.0%
Over the last 7 days, the market has remained flat, although notably the Materials sector gained 3.4% in that time. As for the longer term, the market has risen 33% in the past 12 months. 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 |
|---|---|---|---|---|---|---|
| Tue, 20 Jan 2026 | HK$57.0t | HK$43.4t | HK$4.0t | 12.4x | 14.3x | 1.3x |
| Thu, 18 Dec 2025 | HK$55.2t | HK$42.9t | HK$3.9t | 12.1x | 14x | 1.3x |
| Sat, 15 Nov 2025 | HK$57.9t | HK$42.5t | HK$3.9t | 12.6x | 14.8x | 1.4x |
| Mon, 13 Oct 2025 | HK$56.6t | HK$42.8t | HK$3.9t | 12.7x | 14.6x | 1.3x |
| Wed, 10 Sep 2025 | HK$57.7t | HK$43.4t | HK$4.0t | 12.2x | 14.6x | 1.3x |
| Fri, 08 Aug 2025 | HK$55.9t | HK$43.6t | HK$3.9t | 12.1x | 14.3x | 1.3x |
| Sun, 06 Jul 2025 | HK$53.2t | HK$43.6t | HK$3.9t | 11.2x | 13.7x | 1.2x |
| Tue, 03 Jun 2025 | HK$50.1t | HK$43.5t | HK$3.9t | 10.9x | 13x | 1.2x |
| Thu, 01 May 2025 | HK$47.6t | HK$42.6t | HK$3.8t | 10.7x | 12.6x | 1.1x |
| Sat, 29 Mar 2025 | HK$48.6t | HK$43.2t | HK$3.7t | 11.1x | 13.2x | 1.1x |
| Mon, 24 Feb 2025 | HK$48.1t | HK$43.3t | HK$3.5t | 10.3x | 13.6x | 1.1x |
| Wed, 22 Jan 2025 | HK$43.8t | HK$43.1t | HK$3.5t | 9.9x | 12.5x | 1x |
| Fri, 20 Dec 2024 | HK$44.1t | HK$42.6t | HK$3.6t | 10x | 12.1x | 1x |
| Sun, 17 Nov 2024 | HK$43.2t | HK$43.0t | HK$3.7t | 9.8x | 11.8x | 1x |
| Tue, 15 Oct 2024 | HK$45.2t | HK$43.6t | HK$3.6t | 10x | 12.6x | 1x |
| Thu, 12 Sep 2024 | HK$38.1t | HK$43.6t | HK$3.6t | 8.7x | 10.6x | 0.9x |
| Sat, 10 Aug 2024 | HK$39.2t | HK$43.0t | HK$3.5t | 9x | 11.2x | 0.9x |
| Mon, 08 Jul 2024 | HK$41.0t | HK$42.6t | HK$3.5t | 9.5x | 11.8x | 1x |
| Wed, 05 Jun 2024 | HK$42.0t | HK$43.3t | HK$3.4t | 9.7x | 12.2x | 1x |
| Fri, 03 May 2024 | HK$41.1t | HK$43.2t | HK$3.4t | 9.4x | 12.1x | 1x |
| Sun, 31 Mar 2024 | HK$38.7t | HK$43.5t | HK$3.4t | 9.1x | 11.3x | 0.9x |
| Tue, 27 Feb 2024 | HK$38.1t | HK$43.8t | HK$3.4t | 8.9x | 11.2x | 0.9x |
| Thu, 25 Jan 2024 | HK$35.9t | HK$44.5t | HK$3.4t | 8.9x | 10.7x | 0.8x |
| Sat, 23 Dec 2023 | HK$37.0t | HK$46.0t | HK$3.5t | 9x | 10.6x | 0.8x |
| Mon, 20 Nov 2023 | HK$38.6t | HK$45.4t | HK$3.4t | 8.9x | 11.2x | 0.8x |
| Wed, 18 Oct 2023 | HK$39.3t | HK$45.0t | HK$3.4t | 9x | 11.5x | 0.9x |
| Fri, 15 Sep 2023 | HK$40.1t | HK$45.2t | HK$3.5t | 9.2x | 11.6x | 0.9x |
| Sun, 13 Aug 2023 | HK$41.2t | HK$45.5t | HK$3.6t | 9.6x | 11.3x | 0.9x |
| Tue, 11 Jul 2023 | HK$40.8t | HK$45.7t | HK$3.7t | 9.6x | 11.2x | 0.9x |
| Thu, 08 Jun 2023 | HK$42.5t | HK$46.4t | HK$3.7t | 9.5x | 11.4x | 0.9x |
| Sat, 06 May 2023 | HK$45.2t | HK$47.6t | HK$3.8t | 9.8x | 11.9x | 1x |
| Mon, 03 Apr 2023 | HK$43.7t | HK$47.8t | HK$4.0t | 9.7x | 11x | 0.9x |
| Wed, 01 Mar 2023 | HK$42.5t | HK$47.3t | HK$4.2t | 8.8x | 10.2x | 0.9x |
| Fri, 27 Jan 2023 | HK$46.0t | HK$48.1t | HK$4.3t | 9.1x | 10.7x | 1x |
Price to Earnings Ratio
10.7x
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 14.3x which is higher than its 3-year average PE of 12.2x.
Past Earnings Growth
- The earnings for companies in the Hong Kong industry have declined 2.4% per year over the last three years.
- Revenues have also declined 3.3% 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 | -0.032% | |
| Materials | 3.41% | |
| Energy | 2.54% | |
| Industrials | 1.53% | |
| Real Estate | 1.30% | |
| Utilities | 0.83% | |
| Consumer Discretionary | 0.51% | |
| Consumer Staples | -0.14% | |
| Financials | -0.39% | |
| Tech | -0.40% | |
| Healthcare | -1.60% | |
| Telecom | -2.43% | |
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 133x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 30.0%, 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 2.6% 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 | Sector | |
|---|---|---|---|---|---|---|
| 2259 Zijin Gold International | HK$179.40 | 11.6% +HK$49.8b | n/a | PE78.2x | Materials | |
| 386 China Petroleum & Chemical | HK$4.92 | 5.8% +HK$32.6b | 14.4% | PE14.8x | Energy | |
| 2338 Weichai Power | HK$24.12 | 12.8% +HK$23.5b | 77.9% | PE15.6x | Industrials | |
| 9633 Nongfu Spring | HK$49.60 | 3.7% +HK$20.0b | 38.5% | PE36.9x | Consumer Staples | |
| 1347 Hua Hong Semiconductor | HK$100.60 | 12.2% +HK$18.9b | 319.2% | PE1833.3x | Tech |
