港股市场估值周报-20260210

Valuation of Hong Kong Stock Market - The Hang Seng Composite Index (HSCI) and Hang Seng Index (HSI) are key indicators of the Hong Kong stock market's valuation[9][13] - The Hang Seng Technology Index (HSTECH) reflects the valuation trends in the technology sector[17] Industry Valuation Levels - The PE (TTM) valuation shows that the consumer staples sector is undervalued, with a percentile below 20%[24] - Sectors with PE valuation below 50% include consumer discretionary, information technology, and utilities[24] - High valuation sectors (above 50%) include energy, materials, industrials, healthcare, financials, and telecommunications[24] - The PB (LF) valuation indicates no sectors are undervalued below 20%, while information technology, utilities, and real estate are below 50%[24][28] - High PB valuation sectors (above 50%) include energy, materials, industrials, consumer discretionary, consumer staples, healthcare, financials, and telecommunications[24][28] AH Share Premium/Discount Levels - The Hang Seng AH Share Premium Index tracks the premium or discount of Hong Kong-listed shares compared to their A-share counterparts[34]