VOL. XCIV, NO. 247
★ WIDE MOAT STOCKS COMPARISON ★
NO ADVICE
Monday, January 5, 2026
Stock Comparison
Hong Kong Exchanges and Clearing Limited vs British American Tobacco p.l.c.
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 analysisBritish American Tobacco p.l.c.
BATS · London Stock Exchange
Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.
Full stock profile
Dive deeper into British American Tobacco p.l.c.'s moat claims, evidence, and risks.
View BATS analysisComparison highlights
- Moat score gap: Hong Kong Exchanges and Clearing Limited leads (92 / 100 vs 71 / 100 for British American Tobacco p.l.c.).
- Segment focus: Hong Kong Exchanges and Clearing Limited has 4 segments (52.6% in Cash Markets); British American Tobacco p.l.c. has 6 segments (80% in Combustibles).
- Primary market structure: Monopoly vs Oligopoly. Pricing power: Moderate vs Strong.
- Moat breadth: Hong Kong Exchanges and Clearing Limited has 9 moat types across 5 domains; British American Tobacco p.l.c. has 6 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%
British American Tobacco p.l.c.
Combustibles
Combustible tobacco (cigarettes and other combustible products)
Global
Adult nicotine consumers via retail/wholesale channels
Manufacturer / brand owner
80%
Side-by-side metrics
Moat coverage
Shared moat types
Hong Kong Exchanges and Clearing Limited strengths
British American Tobacco p.l.c. 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
British American Tobacco p.l.c. segments
Full profile >Combustibles
Oligopoly
Vapour
Competitive
Heated Products
Oligopoly
Modern Oral
Oligopoly
Traditional Oral
Oligopoly
Other
Competitive
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View the moat stocks listCuration & 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.