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

Industry classification *	2016 Jul	Aug	Sep	Oct	Nov	Dec	2017 Jan	Feb	Mar	Apr	May	Jun
Energy	17.90	17.95	20.38	21.10	20.68	20.74	21.96	21.33	33.53	29.26	28.76	27.77
Materials	16.36	17.00	15.98	16.01	17.27	16.75	19.40	18.91	14.28	15.22	15.22	15.41
Industrials	13.24	14.04	13.89	13.82	14.25	13.89	14.83	14.92	14.72	14.71	14.53	15.00
Consumer Goods	16.64	17.15	17.69	18.19	18.69	17.95	18.62	19.18	17.70	18.03	18.36	18.95
Consumer Services	14.95	14.69	16.18	16.87	17.84	16.84	17.66	18.17	24.51	22.18	22.60	22.70
Telecommunications	15.51	15.53	15.35	14.62	14.04	13.59	14.42	14.13	16.17	15.71	16.44	15.96
Utilities	14.06	14.35	14.27	14.05	13.72	13.10	13.77	14.34	15.95	16.19	16.49	16.02
Financials	6.90	7.49	7.61	7.59	7.78	7.58	7.92	9.06	9.40	9.27	9.63	10.79
Properties & Construction	8.28	8.61	8.96	8.86	8.66	8.26	8.73	9.23	9.25	9.46	9.87	9.77
Information Technology	34.34	37.23	38.86	38.17	36.58	36.41	38.70	39.21	35.52	38.53	38.51	39.79
Conglomerates	4.54	4.78	4.54	4.49	4.54	4.26	4.50	4.52	9.06	9.58	10.08	9.78
All stocks	10.17	10.67	10.89	10.84	10.88	10.53	11.09	11.83	12.99	13.04	13.43	14.04

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