The recent bull run in the markets are primarily fueled by technology stocks and mainly Chinese technology concept stocks. Its more of a generalized segment that includes, electric vehicle, Saas, mobile gaming and platform ecology. As the HKSE index evolved out from a concentration of traditional financials/property developers like STI, into a more Chinese technology mix like Tencent, Alibaba, Meituan and Xiaomi(taking up 24% weightage of Hang Seng), it is slowly closing the gap with S&P500. The PE difference between the two however is still quite extreme. HK is currently trading at a PE of 15.25x. The lowest it has gone was 6.519X during 27th Oct 2008 and the highest it has gone was 24.48x during 30th Oct 2007. If we look at HK's 10 year period: Its current level should still be acceptable because its current 24% weightage of giant Chinese technology stocks were only included in 2020...