WEIGHTED AVERAGE P/E RATIO
HANG SENG INDEX
(MONTH-END FIGURES)
Times
  JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
1973 -- -- -- -- 43.56 33.14 38.10 31.69 25.65 29.47 24.01 20.21
1974 21.13 16.84 14.17 12.28 16.31 16.13 13.71 11.11 8.73 9.23 7.32 7.09
1975 9.28 10.57 11.56 12.40 13.39 14.22 13.51 13.28 13.72 13.70 13.82 15.75
1976 17.92 19.10 19.65 17.30 16.91 17.19 16.18 16.03 15.50 14.33 14.77 16.33
1977 15.81 15.05 14.41 14.85 14.74 14.70 13.91 13.82 13.37 13.20 13.00 12.36
1978 12.10 12.14 12.31 12.44 12.87 15.18 15.68 17.95 16.46 17.29 12.75 12.34
1979 13.53 12.86 12.04 11.72 12.22 11.57 12.89 11.57 13.49 13.26 14.93 16.68
1980 17.86 17.05 14.32 14.83 15.08 17.96 19.26 19.26 17.49 20.97 19.54 20.17
1981 21.65 19.83 17.23 16.97 20.04 20.72 20.33 19.96 13.80 12.92 16.53 16.00
1982 16.14 14.36 11.94 10.60 11.14 10.29 9.51 8.40 7.43 6.18 5.57 6.20
1983 7.01 8.06 8.48 8.66 8.07 8.47 9.42 8.46 6.75 7.69 7.49 7.68
1984 10.11 9.73 9.90 10.58 9.24 9.03 7.58 8.83 9.59 10.16 11.22 11.93
1985 13.57 13.61 13.87 16.13 17.01 16.53 17.59 17.35 15.84 17.29 16.84 16.53
1986 15.97 15.90 13.82 14.96 14.55 14.54 15.42 15.64 16.94 17.42 17.46 19.04
1987 19.20 21.15 16.80 16.11 17.62 19.41 20.92 21.22 22.35 12.31 11.28 12.15
1988 11.81 12.56 11.60 11.91 11.35 13.05 13.08 11.79 11.66 12.39 11.83 12.51
1989 14.22 13.91 12.37 12.82 11.23 9.15 10.34 10.06 10.96 10.74 10.83 11.19
1990 10.63 11.38 10.30 10.13 10.76 11.08 11.63 10.40 9.29 9.88 9.76 9.96
1991 10.85 11.88 11.98 11.68 11.89 11.73 12.82 12.69 12.49 12.43 12.66 13.11
1992 14.03 14.81 13.54 14.80 16.57 16.62 15.99 15.31 14.96 16.41 15.00 14.23
1993 14.77 16.30 13.22 13.94 14.94 14.40 14.09 15.22 15.17 17.85 17.24 22.64
1994 21.82 19.68 15.08 15.02 15.84 14.49 15.69 16.43 15.64 15.21 13.60 13.16
1995 11.71 12.69 12.62 12.28 13.68 13.38 13.73 13.34 13.94 13.84 13.83 14.19
1996 15.65 14.94 14.12 14.13 14.38 14.07 13.62 14.19 14.98 16.01 17.22 17.30
1997 17.11 17.11 14.48 14.91 16.95 17.43 19.20 16.59 17.48 12.26 12.07 12.29
1998 10.62 12.76 12.54 11.84 9.88 9.45 8.83 8.09 9.18 12.55 12.80 12.36
1999 11.70 13.15 17.89 21.76 20.75 23.11 22.62 23.12 21.72 22.41 25.50 27.88
2000 25.52 26.18 12.33 11.10 11.00 12.06 12.55 13.63 12.48 11.90 11.19 12.74
2001 13.59 12.08 18.28 17.68 17.40 17.65 15.93 14.35 13.08 13.34 14.90 15.06
2002 14.18 13.79 17.83 18.63 18.29 17.18 16.64 16.29 14.72 15.44 16.47 15.45
2003 15.35 15.15 13.18 13.32 14.61 14.83 15.69 17.03 17.69 19.20 19.41 19.82
2004 20.90 21.73 18.25 17.18 17.55 17.51 17.44 18.32 18.40 18.31 19.72 19.96
2005 19.25 19.87 15.11 15.29 15.24 15.85 16.61 16.63 16.03 14.74 15.30 15.24
2006 16.14 16.29 12.72 13.38 12.77 13.10 13.67 14.11 13.91 14.62 15.12 15.83
2007 15.95 15.57 15.04 15.36 15.60 16.57 17.65 18.12 21.18 24.26 22.15 21.07
2008 17.76 18.34 14.03 15.50 14.76              
NOTE: Prior to May 1973 P/E Ratio are not available.

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