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Average price earnings ratios (times) by Hang Seng Industry Classification System
(Month-end figures)

Industry classification *	2015 Sep	Oct	Nov	Dec	2016 Jan	Feb	Mar	Apr	May	Jun	Jul	Aug
Energy	6.62	7.36	6.87	6.59	6.10	6.12	18.83	19.15	17.71	18.23	17.90	17.95
Materials	12.35	13.28	12.62	12.70	11.27	11.53	15.16	15.96	15.23	16.07	16.36	17.00
Industrials	15.78	16.90	16.69	16.58	14.21	14.18	15.27	16.34	13.32	13.18	13.24	14.04
Consumer Goods	15.44	15.89	16.08	15.99	13.94	13.34	14.97	15.31	15.16	16.26	16.64	17.15
Consumer Services	11.54	13.15	12.36	12.73	11.50	14.29	14.58	14.37	14.18	13.90	14.95	14.69
Telecommunications	14.05	14.25	13.67	13.54	13.18	12.90	14.55	14.75	14.53	14.45	15.51	15.53
Utilities	8.56	8.98	8.40	8.49	7.64	7.60	13.97	13.51	13.50	13.71	14.06	14.35
Financials	7.66	8.45	8.18	8.26	7.08	6.99	7.38	7.51	7.39	6.68	6.90	7.49
Properties & Construction	6.76	7.20	6.98	7.21	6.34	6.38	7.75	7.85	7.52	7.74	8.28	8.61
Information Technology	27.42	30.05	31.47	30.79	28.31	28.30	27.98	28.05	32.53	32.75	34.34	37.23
Conglomerates	6.55	6.93	6.59	6.61	5.70	5.57	4.70	4.50	4.44	4.32	4.54	4.78
All stocks	9.40	10.13	9.85	9.90	8.79	8.81	10.14	10.24	10.05	9.75	10.17	10.67

* Industry classification is provided by Hang Seng Indexes Company Limited.