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

Industry classification *	2016 Sep	Oct	Nov	Dec	2017 Jan	Feb	Mar	Apr	May	Jun	Jul	Aug
Energy	20.38	21.10	20.68	20.74	21.96	21.33	33.53	29.26	28.76	27.77	25.83	26.45
Materials	15.98	16.01	17.27	16.75	19.40	18.91	14.28	15.22	15.22	15.41	17.03	18.17
Industrials	13.89	13.82	14.25	13.89	14.83	14.92	14.72	14.71	14.53	15.00	16.06	16.82
Consumer Goods	17.69	18.19	18.69	17.95	18.62	19.18	17.70	18.03	18.36	18.95	19.06	19.80
Consumer Services	16.18	16.87	17.84	16.84	17.66	18.17	24.51	22.18	22.60	22.70	22.58	22.34
Telecommunications	15.35	14.62	14.04	13.59	14.42	14.13	16.17	15.71	16.44	15.96	16.05	15.97
Utilities	14.27	14.05	13.72	13.10	13.77	14.34	15.95	16.19	16.49	16.02	16.85	16.60
Financials	7.61	7.59	7.78	7.58	7.92	9.06	9.40	9.27	9.63	10.79	11.49	11.68
Properties & Construction	8.96	8.86	8.66	8.26	8.73	9.23	9.25	9.46	9.87	9.77	10.61	10.87
Information Technology	38.86	38.17	36.58	36.41	38.70	39.21	35.52	38.53	38.51	39.79	44.07	46.48
Conglomerates	4.54	4.49	4.54	4.26	4.50	4.52	9.06	9.58	10.08	9.78	9.96	10.23
All stocks	10.89	10.84	10.88	10.53	11.09	11.83	12.99	13.04	13.43	14.04	14.78	15.12

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