Hong Kong remains a critical hub for global capital, offering unique access to Chinese growth through an international regulatory framework. With Obermatt’s latest expansion, we now provide full coverage of the Hang Seng Index, giving you an objective look at the best-performing stocks in this market.
Since its launch in 1969 with just 33 constituents, the Hang Seng Index (HSI) has served as the "Dow Jones of Hong Kong," acting as the primary barometer for the region’s economic health. Over the decades, it has undergone significant structural shifts to remain relevant in a changing global landscape. The index has gradually expanded from those original 33 companies to its current size of over 82 constituents as of early 2026, with an ultimate target of 100 stocks to ensure broader and more accurate market representation.
This growth has been accompanied by a profound sector transformation; once dominated by "Old Economy" stocks like traditional banks and property developers, the HSI has been aggressively revamped to include "New Economy" tech and healthcare giants such as Alibaba, Meituan, and NetEase. Furthermore, to maintain market stability and prevent single stocks from over-influencing the index, weightings for all constituents are now strictly capped at 8%.
Why European Investors are Watching Hong Kong
For retail investors based in Europe, the Hang Seng offers a compelling alternative to Western markets that are currently trading at historical highs. One of the primary draws is the significant valuation discount; Hong Kong equities often trade at much lower multiples relative to European and US markets, offering a more attractive entry point for value-focused investors.
The Top 10 Hang Seng Index Stocks
The following stocks lead the Hang Seng Index based on their 360° View, indicating they are currently outperforming their global peers across multiple financial dimensions.
Name | 360° View | Sentiment | Combined | Value | Growth | Safety |
|---|---|---|---|---|---|---|
1. X-Large • Casinos & Gaming | 100 | 98 | 98 | 49 | 96 | 94 |
2. X-Large • Air Freight & Logistics | 98 | 71 | 94 | 56 | 81 | 94 |
3. Large • Gas Utilities | 96 | 84 | 89 | 44 | 79 | 66 |
4. Medium • Diversified Banks | 95 | 67 | 94 | 85 | 47 | 91 |
5. X-Large • Air Freight & Logistics | 95 | 96 | 73 | 21 | 76 | 87 |
6. Large • Real Estate: Operating Services | 94 | 87 | 76 | 9 | 83 | 94 |
7. X-Large • Health Care Distributors | 93 | 84 | 89 | 99 | 45 | 65 |
8. XX-Large • Oil & Gas Production | 93 | 93 | 73 | 22 | 63 | 87 |
9. X-Large • Pharmaceuticals | 93 | 82 | 82 | 51 | 99 | 53 |
10. XX-Large • Interactive Home Entertainment | 92 | 98 | 81 | 33 | 77 | 82 |
- Galaxy Entertainment
Galaxy Entertainment Group is a dominant force in Macau's integrated resort and gaming industry. It operates flagship properties like Galaxy Macau and StarWorld Hotel, combining high-end gaming (VIP and premium mass) with a diversified revenue stream from luxury hotels, retail, and convention facilities. - JD Logistics
As a technology-driven supply chain leader, JD Logistics provides end-to-end solutions including intelligent warehousing, line-haul transportation, and last-mile delivery. Beyond serving its parent company, JD.com, it manages vast international warehouse space and utilizes AI-powered "Super Brain" technology to optimize complex logistics for diverse external industries. - ENN Energy
One of China’s largest privately owned gas distributors, ENN Energy specializes in the construction and operation of gas pipeline infrastructure and the distribution of piped gas, LNG, and CNG. The company is increasingly focused on integrated energy solutions, providing cooling, heating, and electricity alongside low-carbon digital services. - China Merchants Bank
CMB was the first joint-stock commercial bank in mainland China and has grown into a global financial group listed in both Shanghai and Hong Kong. It is highly regarded for its retail banking leadership, wealth management subsidiaries, and an "AI + Finance" strategy that supports a vast network of over 1,900 branches. - ZTO Express (Cayman)
ZTO Express is a major express delivery company that handles one of the world's highest parcel volumes using a highly scalable "network partner" franchise model. It manages centralized sorting hubs and transportation while partnering with local outlets to provide cost-efficient delivery across 99% of China's cities. - China Resources Mixc Lifestyle Services
This company provides property management and commercial operational services for a wide array of property types, including luxury shopping malls, office buildings, and residential communities. Its business model integrates property security and maintenance with value-added ecosystem services like tenant sourcing and venue leasing. - Sinopharm
Sinopharm (China National Pharmaceutical Group) manages the world's largest cluster of modern traditional Chinese medicine and healthcare industries. It provides a comprehensive medical supply chain—from R&D and manufacturing to logistics and retail—serving over 700,000 end customers including hospitals and pharmacies. - CNOOC
CNOOC Limited is the largest producer of offshore crude oil and natural gas in China and a leading independent global explorer. Its core business revolves around the entire upstream value chain, managing oil and gas exploration, development, and production in offshore China and international regions like Africa and the Americas. - Sino Biopharmaceutical
This R&D-driven pharmaceutical group covers the entire industry chain, from drug discovery to intelligent manufacturing. It holds a leading domestic market position in four critical therapeutic areas: oncology, hepatology (liver diseases), respiratory, and surgery/analgesia, supported by a global team of over 2,800 researchers. - NetEase
NetEase is a global internet technology giant primarily known for its extensive portfolio of multi-player online role-playing games. Beyond gaming, the company operates NetEase Cloud Music, the Youdao learning platform for smart devices and online courses, and established email and e-commerce services.
Performance Over Popularity
If you find that some "famous" stocks are missing from our Top 10, there is a simple reason: Obermatt focuses on performance, not popularity. Well-known names often come with high price tags and high risks that do not always translate into superior financial rankings.
To see exactly how the world’s most famous stocks rank—or to explore the full depth of our 8,500+ stock universe—make sure you have an Obermatt Premium or Unlimited subscription.
Explore the full list on our Hang Seng Index page.