Hong Kong (HSI) Market Analysis & Valuation

UpdatedJul 23, 2025

DataAggregated Company Financials

Companies2266

7D2.2%
3M17.6%
1Y38.6%
YTD28.1%

Over the past 7 days, the market has risen 2.2% with the Energy sector contributing the most to the gain. The market is up 39% over the last 12 months. As for the next few years, earnings are expected to grow by 10% per annum.

Trending IndustriesOil and Gas Gold Biotech Software Renewable Energy

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
Wed, 23 Jul 2025	HK$55.2t	HK$43.6t	HK$3.9t	11.9x	14.2x	1.3x
Fri, 20 Jun 2025	HK$51.3t	HK$43.6t	HK$3.9t	11x	13.2x	1.2x
Sun, 18 May 2025	HK$49.9t	HK$43.1t	HK$3.8t	11x	13.1x	1.2x
Tue, 15 Apr 2025	HK$46.5t	HK$42.4t	HK$3.7t	10.5x	12.5x	1.1x
Thu, 13 Mar 2025	HK$48.4t	HK$43.4t	HK$3.5t	10.5x	13.7x	1.1x
Sat, 08 Feb 2025	HK$45.1t	HK$43.1t	HK$3.5t	10x	12.9x	1x
Mon, 06 Jan 2025	HK$43.9t	HK$42.5t	HK$3.6t	9.9x	12.1x	1x
Wed, 04 Dec 2024	HK$43.7t	HK$42.7t	HK$3.7t	9.9x	12x	1x
Fri, 01 Nov 2024	HK$43.9t	HK$43.3t	HK$3.6t	9.8x	12x	1x
Sun, 29 Sep 2024	HK$43.9t	HK$43.9t	HK$3.6t	9.5x	12.2x	1x
Tue, 27 Aug 2024	HK$40.6t	HK$43.5t	HK$3.6t	8.7x	11.4x	0.9x
Thu, 25 Jul 2024	HK$40.0t	HK$42.5t	HK$3.5t	9.2x	11.5x	0.9x
Sat, 22 Jun 2024	HK$41.2t	HK$43.1t	HK$3.4t	9.5x	12.1x	1x
Mon, 20 May 2024	HK$43.1t	HK$43.2t	HK$3.4t	10x	12.6x	1x
Wed, 17 Apr 2024	HK$39.2t	HK$43.2t	HK$3.4t	9.1x	11.5x	0.9x
Fri, 15 Mar 2024	HK$38.6t	HK$43.9t	HK$3.4t	8.8x	11.2x	0.9x
Sun, 11 Feb 2024	HK$36.4t	HK$43.7t	HK$3.3t	8.7x	10.9x	0.8x
Tue, 09 Jan 2024	HK$37.3t	HK$45.8t	HK$3.5t	9.1x	10.7x	0.8x
Thu, 07 Dec 2023	HK$37.4t	HK$45.8t	HK$3.5t	8.9x	10.8x	0.8x
Sat, 04 Nov 2023	HK$38.6t	HK$45.0t	HK$3.4t	9x	11.2x	0.9x
Mon, 02 Oct 2023	HK$39.4t	HK$45.0t	HK$3.4t	9.2x	11.5x	0.9x
Wed, 30 Aug 2023	HK$40.4t	HK$45.1t	HK$3.6t	9.4x	11.4x	0.9x
Fri, 28 Jul 2023	HK$42.3t	HK$46.0t	HK$3.7t	9.6x	11.4x	0.9x
Sun, 25 Jun 2023	HK$41.3t	HK$46.0t	HK$3.7t	9.6x	11.2x	0.9x
Tue, 23 May 2023	HK$38.6t	HK$46.8t	HK$3.7t	9.7x	10.3x	0.8x
Thu, 20 Apr 2023	HK$45.0t	HK$47.5t	HK$3.8t	9.7x	11.8x	0.9x
Sat, 18 Mar 2023	HK$43.3t	HK$47.5t	HK$4.1t	8.8x	10.5x	0.9x
Mon, 13 Feb 2023	HK$44.2t	HK$48.0t	HK$4.3t	9x	10.3x	0.9x
Wed, 11 Jan 2023	HK$44.0t	HK$48.0t	HK$4.3t	8.9x	10.3x	0.9x
Fri, 09 Dec 2022	HK$41.7t	HK$46.7t	HK$4.2t	8.8x	10x	0.9x
Sun, 06 Nov 2022	HK$35.9t	HK$45.2t	HK$4.0t	8.1x	9x	0.8x
Tue, 04 Oct 2022	HK$37.2t	HK$45.6t	HK$4.0t	8.3x	9.2x	0.8x
Thu, 01 Sep 2022	HK$41.7t	HK$46.7t	HK$4.2t	9x	9.9x	0.9x
Sat, 30 Jul 2022	HK$42.2t	HK$46.8t	HK$4.3t	8.8x	9.7x	0.9x

Price to Earnings Ratio

9.7x

Sat, 30 Jul 2022

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 14.2x which is higher than its 3-year average PE of 11.4x.

Past Earnings Growth

The earnings for companies in the Hong Kong industry have declined 3.4% per year over the last three years.
Revenues have also declined 2.4% 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	2.23%
Materials	9.72%
Healthcare	5.55%
Consumer Staples	5.07%
Industrials	5.06%
Energy	4.99%
Utilities	2.61%
Consumer Discretionary	2.43%
Tech	1.37%
Telecom	1.34%
Real Estate	1.25%
Financials	-0.20%

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 201x.

The market's confidence is likely because analysts are expecting annual earnings growth of 28.7% which is higher than its past year's earnings decline of 1.0% per year.

Forecasted Growth

Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 29% over the next 5 years.
This is better than its past earnings decline of 1.0% 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
700 Tencent Holdings	HK$526.00	1.6% +HK$77.1b	43.6%	PE21.8x	Telecom
2628 China Life Insurance	HK$20.95	11.6% +HK$61.3b	92.9%	PE4.7x	Financials
1211 BYD	HK$134.20	8.8% +HK$59.3b	68.9%	PE15x	Consumer Discretionary
2899 Zijin Mining Group	HK$22.45	10.0% +HK$54.3b	42.6%	PE15.1x	Materials
9633 Nongfu Spring	HK$45.25	10.8% +HK$49.5b	36.7%	PE38.4x	Consumer Staples

Market Insights

🇪🇺 🇬🇧 Momentum Is Returning to European and UK Markets

Richard Bowman

July 2025

5 comments

The tide is turning for UK & European markets. Index ETFs won’t cut it since sector spreads are massive. Picking the right companies matters now more than ever.