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Hong Kong (HSI) Market Analysis & Valuation
UpdatedJan 11, 2025
DataAggregated Company Financials
Companies2306
- 7D-3.0%
- 3M-7.0%
- 1Y15.1%
- YTD-2.7%
Over the last 7 days, the market has dropped 1.7%, driven by a decline of 4.8% in the Communication Services sector. In the last year, the market is actually up 16%. Earnings are forecast to grow by 11% 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, 11 Jan 2025 | HK$42.5t | HK$42.5t | HK$3.6t | 9.7x | 11.7x | 1x |
| Mon, 09 Dec 2024 | HK$44.1t | HK$42.8t | HK$3.7t | 10x | 12.1x | 1x |
| Wed, 06 Nov 2024 | HK$45.4t | HK$43.5t | HK$3.7t | 9.9x | 12.3x | 1x |
| Fri, 04 Oct 2024 | HK$46.7t | HK$43.7t | HK$3.6t | 10.2x | 13x | 1.1x |
| Sun, 01 Sep 2024 | HK$40.4t | HK$43.6t | HK$3.6t | 8.9x | 11.2x | 0.9x |
| Tue, 30 Jul 2024 | HK$39.6t | HK$42.6t | HK$3.5t | 9.1x | 11.4x | 0.9x |
| Thu, 27 Jun 2024 | HK$41.1t | HK$42.5t | HK$3.5t | 9.5x | 11.8x | 1x |
| Sat, 25 May 2024 | HK$42.0t | HK$43.2t | HK$3.4t | 9.8x | 12.2x | 1x |
| Mon, 22 Apr 2024 | HK$39.1t | HK$43.2t | HK$3.4t | 9.1x | 11.5x | 0.9x |
| Wed, 20 Mar 2024 | HK$38.2t | HK$43.9t | HK$3.5t | 8.9x | 11x | 0.9x |
| Fri, 16 Feb 2024 | HK$36.4t | HK$43.9t | HK$3.4t | 8.6x | 10.8x | 0.8x |
| Sun, 14 Jan 2024 | HK$37.2t | HK$45.6t | HK$3.5t | 9.2x | 10.7x | 0.8x |
| Tue, 12 Dec 2023 | HK$37.0t | HK$45.7t | HK$3.5t | 8.8x | 10.7x | 0.8x |
| Thu, 09 Nov 2023 | HK$38.4t | HK$45.2t | HK$3.4t | 9x | 11.2x | 0.9x |
| Sat, 07 Oct 2023 | HK$39.0t | HK$45.0t | HK$3.4t | 9.1x | 11.4x | 0.9x |
| Mon, 04 Sep 2023 | HK$40.2t | HK$45.4t | HK$3.5t | 9.2x | 11.6x | 0.9x |
| Wed, 02 Aug 2023 | HK$43.0t | HK$45.8t | HK$3.7t | 9.8x | 11.8x | 0.9x |
| Fri, 30 Jun 2023 | HK$40.9t | HK$45.5t | HK$3.6t | 9.7x | 11.5x | 0.9x |
| Sun, 28 May 2023 | HK$41.9t | HK$46.6t | HK$3.7t | 9.5x | 11.2x | 0.9x |
| Tue, 25 Apr 2023 | HK$44.3t | HK$47.5t | HK$3.8t | 9.7x | 11.6x | 0.9x |
| Thu, 23 Mar 2023 | HK$43.0t | HK$47.5t | HK$4.1t | 8.9x | 10.5x | 0.9x |
| Sat, 18 Feb 2023 | HK$43.5t | HK$47.6t | HK$4.2t | 9x | 10.3x | 0.9x |
| Mon, 16 Jan 2023 | HK$44.8t | HK$48.4t | HK$4.3t | 8.9x | 10.4x | 0.9x |
| Wed, 14 Dec 2022 | HK$48.6t | HK$46.7t | HK$4.2t | 8.9x | 11.7x | 1x |
| Fri, 11 Nov 2022 | HK$36.0t | HK$45.5t | HK$4.0t | 8x | 8.9x | 0.8x |
| Sun, 09 Oct 2022 | HK$38.0t | HK$45.6t | HK$4.0t | 8.4x | 9.4x | 0.8x |
| Tue, 06 Sep 2022 | HK$40.9t | HK$46.7t | HK$4.1t | 9.1x | 9.9x | 0.9x |
| Thu, 04 Aug 2022 | HK$41.2t | HK$46.8t | HK$4.3t | 8.6x | 9.5x | 0.9x |
| Sat, 02 Jul 2022 | HK$45.5t | HK$47.1t | HK$4.4t | 9.4x | 10.4x | 1x |
| Mon, 30 May 2022 | HK$43.8t | HK$47.1t | HK$4.4t | 8.8x | 10x | 0.9x |
| Wed, 27 Apr 2022 | HK$42.5t | HK$47.1t | HK$4.4t | 8.8x | 9.8x | 0.9x |
| Fri, 25 Mar 2022 | HK$45.6t | HK$46.8t | HK$4.5t | 8.7x | 10.1x | 1x |
| Sun, 20 Feb 2022 | HK$50.4t | HK$46.5t | HK$4.5t | 9x | 11.3x | 1.1x |
| Tue, 18 Jan 2022 | HK$49.5t | HK$46.2t | HK$4.4t | 9.1x | 11.2x | 1.1x |
Price to Earnings Ratio
11.2x
Current Market PE
- Investors are relatively neutral on the Hong Kong market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
- The market is trading close to its 3-year average PE ratio of 11.0x.
Past Earnings Growth
- The earnings for companies in the Hong Kong industry have declined 6.4% per year over the last three years.
- Revenues have also declined 2.7% 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 | -3.01% | |
| Materials | 2.26% | |
| Information Technology | 0% | |
| Financials | 0% | |
| Health Care | 0% | |
| Industrials | 0% | |
| Financials | -1.94% | |
| Consumer Staples | -2.38% | |
| Energy | -2.39% | |
| Tech | -2.59% | |
| Industrials | -2.66% | |
| Real Estate | -3.63% | |
| Consumer Discretionary | -4.11% | |
| Utilities | -4.17% | |
| Healthcare | -4.49% | |
| Telecom | -5.46% | |
Sector PE
- Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 28.1x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 26.6% which is higher than its past year's earnings decline of 0.6% per year.
Forecasted Growth
- Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 27% over the next 5 years.
- This is better than its past earnings decline of 3.5% per year.
- In contrast, the Energy industry is expected to see its earnings growth to stay flat 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 | |
|---|---|---|---|---|---|---|
| 9999 NetEase | HK$146.70 | 7.5% +HK$32.9b | 4.3% | PE16.2x | Telecom | |
| 981 Semiconductor Manufacturing International | HK$32.35 | 9.5% +HK$22.3b | 86.3% | PE59.2x | Tech | |
| 2899 Zijin Mining Group | HK$15.14 | 4.7% +HK$18.0b | 22.9% | PE12.9x | Materials | |
| 2338 Weichai Power | HK$12.80 | 8.7% +HK$8.8b | -8.2% | PE9.5x | Industrials | |
| 1519 J&T Global Express | HK$6.52 | 15.2% +HK$7.6b | -59.4% | PS0.8x | Industrials |
