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Hong Kong (HSI) Market Analysis & Valuation

UpdatedSep 22, 2025
DataAggregated Company Financials
Companies2274
  • 7D-1.2%
  • 3M10.8%
  • 1Y45.2%
  • YTD33.4%

Over the last 7 days, the market has dropped 1.2%, driven by a loss of 3.8% in the Financials sector. Meanwhile, the Consumer Discretionary sector has outperformed, gaining 3.7% in that time. In the last year, the market is actually up 45%. Looking forward, earnings are forecast to grow by 13% annually.

Trending IndustriesOil and GasGoldBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 22 Sep 2025HK$57.3tHK$43.4tHK$4.0t12.5x14.5x1.3x
Wed, 20 Aug 2025HK$56.7tHK$43.5tHK$3.9t12.7x14.6x1.3x
Fri, 18 Jul 2025HK$54.2tHK$43.5tHK$3.9t11.7x13.9x1.2x
Sun, 15 Jun 2025HK$51.8tHK$43.6tHK$3.9t11.1x13.3x1.2x
Tue, 13 May 2025HK$49.5tHK$43.0tHK$3.8t11.1x13x1.2x
Thu, 10 Apr 2025HK$44.5tHK$42.2tHK$3.7t10x12x1.1x
Sat, 08 Mar 2025HK$48.9tHK$43.4tHK$3.5t10.5x13.8x1.1x
Mon, 03 Feb 2025HK$44.3tHK$43.3tHK$3.5t10x12.6x1x
Wed, 01 Jan 2025HK$45.1tHK$42.6tHK$3.6t10x12.4x1.1x
Fri, 29 Nov 2024HK$42.9tHK$42.9tHK$3.7t9.7x11.7x1x
Sun, 27 Oct 2024HK$44.7tHK$43.4tHK$3.6t9.8x12.4x1x
Tue, 24 Sep 2024HK$39.8tHK$43.8tHK$3.6t9x11x0.9x
Thu, 22 Aug 2024HK$40.0tHK$43.2tHK$3.5t8.8x11.3x0.9x
Sat, 20 Jul 2024HK$40.3tHK$42.6tHK$3.5t9.4x11.6x0.9x
Mon, 17 Jun 2024HK$41.2tHK$43.2tHK$3.4t9.5x12x1x
Wed, 15 May 2024HK$42.5tHK$43.2tHK$3.4t9.8x12.5x1x
Fri, 12 Apr 2024HK$39.5tHK$43.3tHK$3.4t9.3x11.5x0.9x
Sun, 10 Mar 2024HK$38.2tHK$43.3tHK$3.4t8.8x11.2x0.9x
Tue, 06 Feb 2024HK$35.7tHK$43.9tHK$3.4t8.4x10.6x0.8x
Thu, 04 Jan 2024HK$37.9tHK$45.9tHK$3.5t9.2x10.9x0.8x
Sat, 02 Dec 2023HK$38.1tHK$45.9tHK$3.5t9x11x0.8x
Mon, 30 Oct 2023HK$38.3tHK$45.1tHK$3.4t9x11.1x0.9x
Wed, 27 Sep 2023HK$39.0tHK$44.9tHK$3.4t9.1x11.4x0.9x
Fri, 25 Aug 2023HK$39.9tHK$45.4tHK$3.6t9.4x11.1x0.9x
Sun, 23 Jul 2023HK$41.2tHK$45.9tHK$3.7t9.5x11.2x0.9x
Tue, 20 Jun 2023HK$43.0tHK$46.0tHK$3.7t9.7x11.7x0.9x
Thu, 18 May 2023HK$44.3tHK$47.0tHK$3.7t9.6x11.8x0.9x
Sat, 15 Apr 2023HK$44.8tHK$47.8tHK$3.8t9.9x11.7x0.9x
Mon, 13 Mar 2023HK$42.3tHK$47.5tHK$4.1t8.8x10.3x0.9x
Wed, 08 Feb 2023HK$44.4tHK$49.5tHK$4.4t9x10.2x0.9x
Fri, 06 Jan 2023HK$43.6tHK$47.5tHK$4.2t8.8x10.3x0.9x
Sun, 04 Dec 2022HK$40.1tHK$46.4tHK$4.1t8.5x9.7x0.9x
Tue, 01 Nov 2022HK$33.5tHK$45.4tHK$4.0t7.8x8.3x0.7x
Thu, 29 Sep 2022HK$37.5tHK$45.3tHK$4.0t8.5x9.4x0.8x
Price to Earnings Ratio

9.4x


Total Market Cap: HK$37.5tTotal Earnings: HK$4.0tTotal Revenue: HK$45.3tTotal Market Cap vs Earnings and Revenue0%0%0%
Hong Kong Market Price to Earnings3Y Average 11.7x202320242025
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 11.7x.
Past Earnings Growth
  • Both revenue and earnings for Hong Kong listed companies have remained mostly flat over the last three years.
  • This means sales and the cost of doing business have remained relatively consistent over this period and subsequently, so have profits.

Sector Trends

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

HK Market-1.15%
Tech4.62%
Consumer Discretionary3.67%
Industrials0.42%
Consumer Staples0.17%
Energy-0.089%
Telecom-0.73%
Real Estate-2.28%
Materials-2.79%
Healthcare-2.91%
Financials-3.75%
Utilities-7.09%
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 227x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 32.0% which is higher than its past year's earnings decline of 3.0% 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 decline of 3.0% per year.
  • In contrast, the Energy sector is expected to see its earnings grow by 2.9% 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
981 Semiconductor Manufacturing InternationalHK$73.3516.4%
+HK$82.8b		351.1%PE130.9xTech
3690 MeituanHK$103.906.7%
+HK$40.0b		-21.8%PE19.7xConsumer Discretionary
1347 Hua Hong SemiconductorHK$62.4519.8%
+HK$17.9b		288.4%PE439.3xTech
20 SenseTime GroupHK$2.7020.0%
+HK$17.4b		126.9%PS21.8xTech
6088 FIT Hon TengHK$6.9451.2%
+HK$16.7b		241.9%PE41.5xTech
See more

Market Insights

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🥇 Gold Breaks Records While Oil Sinks: Commodities 2025 in Contrast
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Richard Bowman
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It’s been a while since we checked in on commodity markets, which, like other markets, are having quite the interesting year. In particular, gold continues its march upward, while oil remains in a slump. As for the rest, most have been up and down and ended up close to where they were a year ago. By the end, you’ll see why gold stocks still look cheap despite these record prices — and why oil stocks, oddly enough, look expensive even as crude declines.
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🥇 Gold Breaks Records While Oil Sinks: Commodities 2025 in Contrast
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981
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351.1%

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A modest improvement in net profit margin and a slight reduction in future P/E indicate incremental profitability and valuation efficiency for Semiconductor Manufacturing International, resulting in a minor increase in the consensus analyst price target to HK$50.84. What's in the News Board meeting scheduled to consider approval of unaudited interim results for the six months ended June 30, 2025.
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Agricultural Bank of China
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1Y
40.8%

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2617
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3690
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Meituan
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939
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China Construction Bank
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31.6%

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The consensus future P/E for China Construction Bank has risen notably alongside higher revenue growth forecasts, supporting a marginal increase in the analyst price target from HK$8.77 to HK$8.90. What's in the News The Board proposed an interim cash dividend of RMB 1.858 per ten shares for 2025, representing 30% of first-half net profit, subject to shareholder approval, with H-shareholders offered a currency election between RMB and HKD.
1398
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Industrial and Commercial Bank of China
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-3.9%
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29.3%

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