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Hong Kong (HSI) Market Analysis & Valuation

UpdatedNov 05, 2025
DataAggregated Company Financials
Companies2267
  • 7D-1.0%
  • 3M3.1%
  • 1Y27.5%
  • YTD32.0%

Over the last 7 days, the market has dropped 1.0%, driven by pullbacks in the Information Technology and Consumer Discretionary sectors of 6.1% and 3.9%, respectively. In the last year, the market is actually up 27%. As for the next few years, earnings are expected to grow by 12% per annum.

Trending IndustriesOil and GasGoldBiotechSoftwareRenewable Energy

Market Valuation and Performance

Has the Hong Kong Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 05 Nov 2025HK$56.4tHK$42.3tHK$3.9t12.5x14.5x1.3x
Fri, 03 Oct 2025HK$58.2tHK$43.2tHK$3.9t12.7x14.8x1.3x
Sun, 31 Aug 2025HK$57.0tHK$43.6tHK$3.9t12.4x14.6x1.3x
Tue, 29 Jul 2025HK$55.7tHK$43.6tHK$3.9t12.1x14.3x1.3x
Thu, 26 Jun 2025HK$53.4tHK$43.6tHK$3.9t11.2x13.7x1.2x
Sat, 24 May 2025HK$50.5tHK$43.4tHK$3.8t11x13.1x1.2x
Mon, 21 Apr 2025HK$46.7tHK$42.5tHK$3.7t10.3x12.5x1.1x
Wed, 19 Mar 2025HK$50.0tHK$43.5tHK$3.6t10.7x14.1x1.1x
Fri, 14 Feb 2025HK$45.7tHK$43.1tHK$3.5t10.1x13x1.1x
Sun, 12 Jan 2025HK$42.6tHK$42.5tHK$3.6t9.7x11.7x1x
Tue, 10 Dec 2024HK$44.9tHK$42.8tHK$3.7t10.1x12.3x1x
Thu, 07 Nov 2024HK$44.8tHK$43.1tHK$3.7t9.9x12.2x1x
Sat, 05 Oct 2024HK$47.5tHK$43.6tHK$3.6t10.6x13.3x1.1x
Mon, 02 Sep 2024HK$40.4tHK$43.6tHK$3.6t8.9x11.2x0.9x
Wed, 31 Jul 2024HK$39.1tHK$42.7tHK$3.5t9.1x11.2x0.9x
Fri, 28 Jun 2024HK$40.7tHK$42.5tHK$3.5t9.4x11.7x1x
Sun, 26 May 2024HK$42.0tHK$43.2tHK$3.4t9.8x12.2x1x
Tue, 23 Apr 2024HK$39.1tHK$43.2tHK$3.4t9.1x11.5x0.9x
Thu, 21 Mar 2024HK$38.4tHK$43.9tHK$3.5t8.9x11x0.9x
Sat, 17 Feb 2024HK$37.1tHK$43.9tHK$3.4t8.7x11x0.8x
Mon, 15 Jan 2024HK$37.2tHK$45.6tHK$3.5t9.1x10.7x0.8x
Wed, 13 Dec 2023HK$37.4tHK$45.7tHK$3.5t8.9x10.8x0.8x
Fri, 10 Nov 2023HK$38.4tHK$45.1tHK$3.4t8.9x11.2x0.9x
Sun, 08 Oct 2023HK$39.0tHK$45.0tHK$3.4t9.1x11.4x0.9x
Tue, 05 Sep 2023HK$41.0tHK$45.3tHK$3.5t9.4x11.9x0.9x
Thu, 03 Aug 2023HK$42.1tHK$45.8tHK$3.7t9.7x11.5x0.9x
Sat, 01 Jul 2023HK$41.5tHK$45.6tHK$3.6t9.7x11.4x0.9x
Mon, 29 May 2023HK$41.9tHK$46.6tHK$3.7t9.5x11.2x0.9x
Wed, 26 Apr 2023HK$43.9tHK$47.4tHK$3.8t9.7x11.6x0.9x
Fri, 24 Mar 2023HK$43.7tHK$47.9tHK$4.1t9x10.6x0.9x
Sun, 19 Feb 2023HK$43.5tHK$47.6tHK$4.2t8.9x10.3x0.9x
Tue, 17 Jan 2023HK$44.8tHK$48.3tHK$4.3t8.9x10.4x0.9x
Thu, 15 Dec 2022HK$42.0tHK$46.8tHK$4.2t8.9x10.1x0.9x
Sat, 12 Nov 2022HK$37.8tHK$45.6tHK$4.0t8.3x9.3x0.8x
Price to Earnings Ratio

9.3x


Total Market Cap: HK$37.8tTotal Earnings: HK$4.0tTotal Revenue: HK$45.6tTotal Market Cap vs Earnings and Revenue0%0%0%
Hong Kong Market Price to Earnings3Y Average 11.9x202320242025
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 14.5x which is higher than its 3-year average PE of 11.9x.
Past Earnings Growth
  • The earnings for Hong Kong listed companies have remained mostly flat over the last three years.
  • Meanwhile revenues have declined 2.5% per year.
  • This means that the cost of doing business could be reducing since sales have declined yet profits have remained steady.

Sector Trends

Which sectors have driven the changes within the Hong Kong Market?

HK Market-1.05%
Energy2.09%
Materials0.37%
Financials0.031%
Utilities0.0027%
Healthcare-0.14%
Industrials-0.90%
Real Estate-1.36%
Telecom-1.42%
Consumer Staples-2.35%
Consumer Discretionary-3.87%
Tech-6.08%
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 203x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 32.4%, which is higher than its past year's earnings growth of 2.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 32% over the next 5 years.
  • This is better than its past earnings growth rate of 2.2% 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?

CompanyLast Price7D1YValuationSector
1398 Industrial and Commercial Bank of ChinaHK$6.243.0%
+HK$64.2b		28.4%PB0.5xFinancials
857 PetroChinaHK$8.334.1%
+HK$60.4b		39.3%PE8.8xEnergy
1299 AIA GroupHK$79.656.8%
+HK$53.0b		27.0%PE17.7xFinancials
939 China Construction BankHK$8.051.9%
+HK$39.2b		30.3%PB0.5xFinancials
3988 Bank of ChinaHK$4.521.8%
+HK$25.8b		19.3%PB0.4xFinancials
See more

Market Insights

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🏦 Room to Run: A Look at Where the Financial Sector Could Go
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Richard Bowman
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The AI capex boom is getting all of the attention, but behind that flurry of spending is an entire corner of the market that many are overlooking: Financials. Three key factors underpin the sector’s medium-term potential: a steepening yield curve, heightened IPO activity, and surging business spending together could boost financial stocks and ETFs higher.
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Latest News

1299
HK$79.65
AIA Group
7D
6.8%
1Y
27.0%

1299: Share Buyback Momentum And Dividend Actions Will Drive Future Upside

Analysts have raised their price target for AIA Group, increasing the fair value estimate from $91.70 to $93.74. This adjustment is based on improved revenue growth projections and a slightly higher anticipated forward price-to-earnings ratio.
2328
HK$18.30
PICC Property and Casualty
7D
-5.4%
1Y
48.1%

PICC Property and Casualty (HKG:2328) Is Due To Pay A Dividend Of CN¥0.263

Nov 02
PICC Property and Casualty (HKG:2328) Is Due To Pay A Dividend Of CN¥0.263
1288
HK$6.03
Agricultural Bank of China
7D
-1.6%
1Y
48.9%

1288: Revenue Outlook And Margin Trends Will Shape Performance Amid Digital Transition

Analysts have raised their price target for Agricultural Bank of China from ¥5.86 to ¥6.06, citing slightly improved revenue growth expectations. This increase comes despite minor adjustments to profit margin and valuation metrics.
981
HK$71.85
Semiconductor Manufacturing International
7D
-10.3%
1Y
161.3%

981: Rising Costs And Earnings Uncertainty Will Limit Upside Potential

Analysts have raised their price target for Semiconductor Manufacturing International from $56.64 to $59.57, citing modest improvements in projected revenue growth and profit margins. What's in the News A board meeting is scheduled for November 13, 2025, to consider and approve the unaudited financial results for the three months ended September 30, 2025 (Key Developments).
939
HK$8.05
China Construction Bank
7D
1.9%
1Y
30.3%
1211
HK$97.10
BYD
7D
-7.3%
1Y
-1.0%
883
HK$20.40
CNOOC
7D
2.3%
1Y
10.9%
1339
HK$6.99
People's Insurance Company (Group) of China
7D
-6.6%
1Y
68.8%
857
HK$8.33
PetroChina
7D
4.1%
1Y
39.3%
1398
HK$6.24
Industrial and Commercial Bank of China
7D
3.0%
1Y
28.4%
3988
HK$4.52
Bank of China
7D
1.8%
1Y
19.3%
1810
HK$43.42
Xiaomi
7D
-3.3%
1Y
54.0%

Global Advances In Premium Offerings Will Shape Market Leadership Ahead

Analysts have lowered their price target for Xiaomi from $45 to $43. They cite a weaker global cellphone market, but acknowledge the company's increasing market share and steady profit margins.
700
HK$629.00
Tencent Holdings
7D
-2.5%
1Y
47.0%

Analysts Lift Tencent Price Target on Growth Prospects Amid Regulatory and Competitive Headwinds

Analysts have raised their price target for Tencent Holdings from HK$695.52 to HK$708.43, citing recent positive upgrades as well as expectations of continued growth in revenue and valuation multiples. Analyst Commentary Bullish Takeaways Bullish analysts highlight Tencent's upgraded price target and improved rating as a reflection of rising confidence in the company's long-term growth prospects.
9999
HK$216.80
NetEase
7D
-3.5%
1Y
74.1%

Analysts Lift NetEase Price Target as Growth and Profit Margins Improve Amid Buyback and Dividend News

Analysts have raised their price target for NetEase from $241.62 to $245.57, citing modest improvements in growth rate and profitability metrics. What's in the News The board of directors has approved a dividend of USD 0.1140 per share (USD 0.5700 per ADS) for the second quarter of 2025.
941
HK$86.70
China Mobile
7D
1.3%
1Y
20.7%
1378
HK$29.68
China Hongqiao Group
7D
7.3%
1Y
116.6%

Investors Should Be Encouraged By China Hongqiao Group's (HKG:1378) Returns On Capital

Oct 17
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