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Hong Kong (HSI) Market Analysis & Valuation

UpdatedJun 09, 2026
DataAggregated Company Financials
Companies2326
  • 7D-2.4%
  • 3M-5.0%
  • 1Y5.3%
  • YTD-3.9%

The market has dropped by 5.3% in the last 7 days, with the Healthcare sector leading declines. In the last year, the market is actually up 5.3%. 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
Tue, 09 Jun 2026HK$54.7tHK$44.9tHK$4.2t11.9x13.1x1.2x
Thu, 07 May 2026HK$57.3tHK$44.6tHK$4.2t13.2x13.8x1.3x
Sat, 04 Apr 2026HK$55.9tHK$44.2tHK$4.1t12.4x13.7x1.3x
Mon, 02 Mar 2026HK$57.2tHK$44.2tHK$4.0t12.6x14.1x1.3x
Wed, 28 Jan 2026HK$57.6tHK$43.6tHK$4.0t12.6x14.4x1.3x
Fri, 26 Dec 2025HK$55.8tHK$43.1tHK$4.0t12.1x14.1x1.3x
Sun, 23 Nov 2025HK$55.8tHK$42.6tHK$3.9t12.1x14.2x1.3x
Tue, 21 Oct 2025HK$55.2tHK$42.3tHK$3.8t12.6x14.5x1.3x
Thu, 18 Sep 2025HK$58.4tHK$43.4tHK$4.0t12.5x14.7x1.3x
Sat, 16 Aug 2025HK$56.7tHK$43.5tHK$3.9t12.6x14.6x1.3x
Mon, 14 Jul 2025HK$53.8tHK$43.6tHK$3.9t11.5x13.8x1.2x
Wed, 11 Jun 2025HK$53.1tHK$43.6tHK$3.9t11.2x13.7x1.2x
Fri, 09 May 2025HK$48.7tHK$42.7tHK$3.8t11x12.9x1.1x
Sun, 06 Apr 2025HK$48.3tHK$42.7tHK$3.8t11x12.9x1.1x
Tue, 04 Mar 2025HK$47.1tHK$43.2tHK$3.5t10.5x13.4x1.1x
Thu, 30 Jan 2025HK$44.3tHK$43.3tHK$3.5t10x12.6x1x
Sat, 28 Dec 2024HK$45.0tHK$42.6tHK$3.6t10x12.3x1.1x
Mon, 25 Nov 2024HK$42.7tHK$42.9tHK$3.7t9.8x11.6x1x
Wed, 23 Oct 2024HK$44.8tHK$43.4tHK$3.6t10x12.5x1x
Fri, 20 Sep 2024HK$39.3tHK$43.8tHK$3.6t9x10.9x0.9x
Sun, 18 Aug 2024HK$39.9tHK$43.1tHK$3.5t9x11.3x0.9x
Tue, 16 Jul 2024HK$41.5tHK$42.6tHK$3.5t9.4x12x1x
Thu, 13 Jun 2024HK$41.2tHK$43.2tHK$3.4t9.6x12x1x
Sat, 11 May 2024HK$42.4tHK$43.3tHK$3.4t9.7x12.4x1x
Mon, 08 Apr 2024HK$39.0tHK$43.3tHK$3.4t9.1x11.4x0.9x
Wed, 06 Mar 2024HK$37.7tHK$43.8tHK$3.4t8.7x11x0.9x
Fri, 02 Feb 2024HK$35.9tHK$43.9tHK$3.3t8.6x10.8x0.8x
Sun, 31 Dec 2023HK$38.3tHK$46.2tHK$3.5t9.4x11x0.8x
Tue, 28 Nov 2023HK$38.8tHK$45.7tHK$3.5t9.2x11.2x0.8x
Thu, 26 Oct 2023HK$37.8tHK$44.9tHK$3.4t8.9x11.1x0.8x
Sat, 23 Sep 2023HK$40.0tHK$44.8tHK$3.3t9.3x12x0.9x
Mon, 21 Aug 2023HK$39.7tHK$45.3tHK$3.6t9.5x11.1x0.9x
Wed, 19 Jul 2023HK$41.3tHK$45.9tHK$3.7t9.5x11.2x0.9x
Fri, 16 Jun 2023HK$43.0tHK$46.0tHK$3.7t9.7x11.7x0.9x
Price to Earnings Ratio

11.7x


Total Market Cap: HK$43.0tTotal Earnings: HK$3.7tTotal Revenue: HK$46.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Hong Kong Market Price to Earnings3Y Average 12.6x202420252026
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 12.6x.
Past Earnings Growth
  • The earnings for Hong Kong listed companies have grown 4.3% per year over the last three years, while revenues have remained steady.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Sector Trends

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

HK Market-2.41%
Financials0.23%
Telecom-0.99%
Energy-1.97%
Industrials-2.86%
Consumer Staples-3.92%
Consumer Discretionary-4.04%
Tech-4.22%
Utilities-4.24%
Real Estate-4.77%
Materials-8.58%
Healthcare-9.14%
Sector PE
  • Investors favour the Real Estate sector the most for future growth, which is trading above its 3-year average PE ratio of 47.2x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 22.2% which is higher than its past year's earnings decline of 8.1% per year.
  • The Financials sector is the least preferred by investors for future growth, which is trading close to its 3-year average of 7.1x.
Forecasted Growth
  • Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 34% over the next 5 years.
  • This is better than its past earnings growth rate of 8.7% per year.
  • In contrast, the Energy sector is expected to see its earnings grow by 4.1% 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$6.931.9%
+HK$46.3b		15.1%PB0.5xFinancials
1888 Kingboard Laminates HoldingsHK$63.0027.2%
+HK$42.3b		530.6%PE80.9xTech
148 Kingboard HoldingsHK$89.8548.9%
+HK$32.7b		259.4%PE22.6xTech
3988 Bank of ChinaHK$5.391.5%
+HK$25.8b		15.9%PB0.5xFinancials
6869 Yangtze Optical Fibre And Cable LimitedHK$255.409.7%
+HK$18.6b		1,446.0%PE156.9xTech
See more

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Latest News

1888
HK$63.00
Kingboard Laminates Holdings
7D
27.2%
1Y
530.6%
2328
HK$14.83
PICC Property and Casualty
7D
3.4%
1Y
-2.9%
6869
HK$255.40
Yangtze Optical Fibre And Cable Limited
7D
9.7%
1Y
1,446.0%
1211
HK$88.40
BYD
7D
-8.6%
1Y
-34.8%
3988
HK$5.39
Bank of China
7D
1.5%
1Y
15.9%
941
HK$82.30
China Mobile
7D
-4.2%
1Y
-5.9%
Narrative Update • Jun 05

941: 2025 Dividend Policy Will Support Future Upside Repricing Potential

Analysts have made a small upward adjustment to their HK$ fair value estimate for China Mobile, citing slightly refined assumptions around future P/E, discount rate, revenue growth, and profit margins as they refresh their valuation work. What's in the News The board recommends a 2025 final dividend of HK$2.52 per share, bringing the total 2025 dividend to HK$5.27 per share, with a stated dividend payout ratio of 75% for the year.
1398
HK$6.93
Industrial and Commercial Bank of China
7D
1.9%
1Y
15.1%
939
HK$8.69
China Construction Bank
7D
0.3%
1Y
16.0%
700
HK$453.20
Tencent Holdings
7D
-5.9%
1Y
-11.7%
148
HK$89.85
Kingboard Holdings
7D
48.9%
1Y
259.4%
1299
HK$71.00
AIA Group
7D
-13.5%
1Y
1.9%
Narrative Update • Jun 02

1299: Dividend Hike And Buyback Plan Will Drive Stronger Future Returns

Analysts have made a marginal upward adjustment to the HK$104.43 price target for AIA Group. This reflects fine tuning of fair value, discount rate, revenue growth, profit margin, and forward P/E assumptions, without a change in the overall thesis.
2513
HK$1,136.00
Knowledge Atlas Technology
7D
-19.5%
1Y
n/a
100
HK$464.40
MiniMax Group
7D
-30.4%
1Y
n/a
New Narrative • Jun 01

Full Modality And Global Agent Adoption Will Reshape Long Term Potential

Catalysts About MiniMax Group MiniMax Group develops and commercializes large scale AI models and agent platforms across text, video, speech and music for enterprises, developers and consumers worldwide. What are the underlying business or industry changes driving this perspective?
1810
HK$27.20
Xiaomi
7D
-8.2%
1Y
-49.1%
Narrative Update • May 26

1810: Surging Memory Costs Will Pressure Margins And Future Hardware Returns

Analysts have trimmed their Xiaomi price targets, with one move from HK$40 to HK$30 helping drive a broader recalibration of fair value estimates as higher projected revenue growth is offset by pressure on profit margins and concerns about smartphone demand and Chinese auto sales. Analyst Commentary Recent research suggests that some bearish analysts are growing more cautious on Xiaomi, even while maintaining generally constructive views on the stock.
857
HK$10.20
PetroChina
7D
-5.1%
1Y
44.3%
9903
HK$515.50
Shanghai Iluvatar CoreX Semiconductor
7D
11.7%
1Y
n/a