VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, January 5, 2026

Stock Comparison

Hong Kong Exchanges and Clearing Limited vs Sony Group Corporation

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Hong Kong Exchanges and Clearing Limited

0388.HK · Hong Kong Stock Exchange (HKEX)

Market cap (USD)$67.7B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
Industry
CountryHK
Data as of2026-01-03
Moat score
92/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Hong Kong Exchanges and Clearing Limited's moat claims, evidence, and risks.

View 0388.HK analysis

Sony Group Corporation

6758 · Tokyo Stock Exchange

Market cap (USD)$24.2T
Gross margin (TTM)29.1%
Operating margin (TTM)11.3%
Net margin (TTM)9.2%
SectorConsumer
IndustryConsumer Electronics
CountryJP
Data as of2025-12-29
Moat score
75/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Sony Group Corporation's moat claims, evidence, and risks.

View 6758 analysis

Comparison highlights

  • Moat score gap: Hong Kong Exchanges and Clearing Limited leads (92 / 100 vs 75 / 100 for Sony Group Corporation).
  • Segment focus: Hong Kong Exchanges and Clearing Limited has 4 segments (52.6% in Cash Markets); Sony Group Corporation has 5 segments (37.8% in Game & Network Services).
  • Primary market structure: Monopoly vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Hong Kong Exchanges and Clearing Limited has 9 moat types across 5 domains; Sony Group Corporation has 8 across 4.

Primary market context

Hong Kong Exchanges and Clearing Limited

Cash Markets

Market

Exchange-based cash equities trading, clearing and settlement in Hong Kong (including Stock Connect cash markets)

Geography

Hong Kong (with Mainland China Connect linkage)

Customer

Brokers, banks, proprietary trading firms, and investors; listed issuers via primary/secondary markets

Role

Exchange operator + clearing/settlement/depository operator

Revenue share

52.6%

Sony Group Corporation

Game & Network Services

Market

Console gaming platforms and associated network services

Geography

Global

Customer

Consumers (players) and game developers/publishers

Role

Platform owner + publisher + hardware OEM

Revenue share

37.8%

Side-by-side metrics

Hong Kong Exchanges and Clearing Limited
Sony Group Corporation
Ticker / Exchange
0388.HK - Hong Kong Stock Exchange (HKEX)
6758 - Tokyo Stock Exchange
Market cap (USD)
$67.7B
$24.2T
Gross margin (TTM)
n/a
29.1%
Operating margin (TTM)
n/a
11.3%
Net margin (TTM)
n/a
9.2%
Sector
Financials
Consumer
Industry
n/a
Consumer Electronics
HQ country
HK
JP
Primary segment
Cash Markets
Game & Network Services
Market structure
Monopoly
Oligopoly
Market share
100% (reported)
n/a
HHI estimate
10,000
n/a
Pricing power
Moderate
Moderate
Moat score
92 / 100
75 / 100
Moat domains
Legal, Network, Financial, Supply, Demand
Network, Legal, Demand, Supply
Last update
2026-01-03
2025-12-29

Moat coverage

Shared moat types

Two Sided NetworkDistribution Control

Hong Kong Exchanges and Clearing Limited strengths

Concession LicenseClearing SettlementInteroperability HubDirect Network EffectsBenchmark Pricing PowerPhysical Network DensitySwitching Costs General

Sony Group Corporation strengths

Ecosystem ComplementsContent Rights CurrencyReputation ReviewsBrand TrustCapex Knowhow ScaleLearning Curve Yield

Segment mix

Hong Kong Exchanges and Clearing Limited segments

Full profile >

Cash Markets

Monopoly

52.6%

Equity and Financial Derivatives

Monopoly

20.3%

Commodities (LME and related)

Oligopoly

14.8%

Data and Connectivity

Quasi-Monopoly

12.2%

Sony Group Corporation segments

Full profile >

Game & Network Services

Oligopoly

37.8%

Music

Oligopoly

15.1%

Pictures

Oligopoly

12.5%

Entertainment, Technology & Services

Competitive

19.6%

Imaging & Sensing Solutions

Quasi-Monopoly

14.2%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.