VOL. XCIV, NO. 247
★ WIDE MOAT STOCKS COMPARISON ★
NO ADVICE
Saturday, January 10, 2026
Stock Comparison
Hong Kong Exchanges and Clearing Limited vs Air Liquide S.A.
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)
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 analysisAir Liquide S.A.
AI · Euronext Paris
Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.
Full stock profile
Dive deeper into Air Liquide S.A.'s moat claims, evidence, and risks.
View AI analysisComparison highlights
- Moat score gap: Hong Kong Exchanges and Clearing Limited leads (92 / 100 vs 58 / 100 for Air Liquide S.A.).
- Segment focus: Hong Kong Exchanges and Clearing Limited has 4 segments (52.6% in Cash Markets); Air Liquide S.A. has 6 segments (44% in Industrial Merchant).
- Primary market structure: Monopoly vs Competitive. Pricing power: Moderate vs Moderate.
- Moat breadth: Hong Kong Exchanges and Clearing Limited has 9 moat types across 5 domains; Air Liquide S.A. has 12 across 3.
Primary market context
Hong Kong Exchanges and Clearing Limited
Cash Markets
Exchange-based cash equities trading, clearing and settlement in Hong Kong (including Stock Connect cash markets)
Hong Kong (with Mainland China Connect linkage)
Brokers, banks, proprietary trading firms, and investors; listed issuers via primary/secondary markets
Exchange operator + clearing/settlement/depository operator
52.6%
Air Liquide S.A.
Industrial Merchant
Merchant industrial and medical gases distribution (cylinders, bulk liquids) plus related equipment and services
Global (local/regional distribution markets)
SMEs and mid-market industrial customers, contractors, labs, and public sector buyers
Distributor + producer (last-mile logistics, cylinder assets, bulk delivery)
44%
Side-by-side metrics
Moat coverage
Shared moat types
Hong Kong Exchanges and Clearing Limited strengths
Air Liquide S.A. strengths
Segment mix
Hong Kong Exchanges and Clearing Limited segments
Full profile >Cash Markets
Monopoly
Equity and Financial Derivatives
Monopoly
Commodities (LME and related)
Oligopoly
Data and Connectivity
Quasi-Monopoly
Air Liquide S.A. segments
Full profile >Large Industries
Oligopoly
Industrial Merchant
Competitive
Healthcare
Competitive
Electronics
Oligopoly
Engineering & Construction
Competitive
Global Markets & Technologies
Competitive
Want the full wide moat stocks list?
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Proven models entering the expansion stage with unit economics that work.
View expansion-stage stocksCuration & 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.