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

Industry classification *	2016 May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	2017 Jan	Feb	Mar	Apr
Energy	17.71	18.23	17.90	17.95	20.38	21.10	20.68	20.74	21.96	21.33	33.53	29.26
Materials	15.23	16.07	16.36	17.00	15.98	16.01	17.27	16.75	19.40	18.91	14.28	15.22
Industrials	13.32	13.18	13.24	14.04	13.89	13.82	14.25	13.89	14.83	14.92	14.72	14.71
Consumer Goods	15.16	16.26	16.64	17.15	17.69	18.19	18.69	17.95	18.62	19.18	17.70	18.03
Consumer Services	14.18	13.90	14.95	14.69	16.18	16.87	17.84	16.84	17.66	18.17	24.51	22.18
Telecommunications	14.53	14.45	15.51	15.53	15.35	14.62	14.04	13.59	14.42	14.13	16.17	15.71
Utilities	13.50	13.71	14.06	14.35	14.27	14.05	13.72	13.10	13.77	14.34	15.95	16.19
Financials	7.39	6.68	6.90	7.49	7.61	7.59	7.78	7.58	7.92	9.06	9.40	9.27
Properties & Construction	7.52	7.74	8.28	8.61	8.96	8.86	8.66	8.26	8.73	9.23	9.25	9.46
Information Technology	32.53	32.75	34.34	37.23	38.86	38.17	36.58	36.41	38.70	39.21	35.52	38.53
Conglomerates	4.44	4.32	4.54	4.78	4.54	4.49	4.54	4.26	4.50	4.52	9.06	9.58
All stocks	10.05	9.75	10.17	10.67	10.89	10.84	10.88	10.53	11.09	11.83	12.99	13.04

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