In the last week of 2021, the A-share market fluctuated upward in this round of cross-year market, and the red market ended; U.S. stocks ended lower, with market liquidity still low.
In the A-share index last week, the comprehensive performance of small and medium-sized board was relatively good: 1.78%, and the performance of Shanghai Stock Exchange 50 was relatively poor: – 0.48%.
In terms of index performance last week, the small cap index performed relatively well: 1.67%, and the large cap index performed relatively poorly: – 0.14%.
In terms of market style last week, the growth performance was relatively good: 2.20%, and the consumption performance was relatively poor: 0.14%.
As of December 31, the PE (TTM) of Shanghai composite index was 13.90 times, that of Shenzhen composite index was 38.30 times and that of gem was 63.26 times.
From the perspective of PE, the valuation of electrical equipment, leisure services and food and beverage in Shenwan industry is significantly higher than the historical average, and the industry valuation quantiles are 93.7%, 91.2% and 90.1% respectively; The valuation of textile and garment, non-ferrous metals and steel industries is significantly lower than the historical average, and the industry valuation quantiles are 6.0%, 11.5% and 15.3% respectively.
As of December 31, the P / E ratio of S & P 500 was 26.43 times, up 0.70% from the previous week, and the P / E ratio of Dow Jones Industrial was 26.44 times, up 0.99% from the previous week; The price earnings ratio of the NASDAQ index was 38.57 times, down 0.69% from the previous week.
As of December 31, the price to book ratio of Hang Seng in Hong Kong was 1.09 times, an increase of 0.67% over the previous week, and the price to book ratio of Hang Seng China enterprise index was 1.05 times, an increase of 0.59% over the previous week; Hang Seng Hong Kong’s 35 price to book ratio was 1.08 times, up 0.78% from the previous week.
Risk tip: the epidemic situation is repeated, the liquidity is lower than expected, and the market fluctuates sharply
(Huaxin securities)
