After the sharp decline of A-Shares last week, they rebounded strongly under the influence of heavy favorable policies. The daily line was positive for three consecutive days. The market came out of the V-shaped rebound trend, and Hong Kong stocks also rebounded sharply after plunging for two consecutive days. On the 17th, the Federal Reserve opened its first interest rate hike. After the landing of market uncertainty, the stock markets of major economies in the world made a strong counterattack, the three major stock indexes of the United States rose across the board, and the NASDAQ index rose sharply by 8.18% a week. Five indexes including Nikkei 225, S & P 500 and German DAX rose by more than 5% in the week.
In the A-share index last week, the comprehensive performance of gem was relatively good: 1.81%, and the performance of CSI 500 was relatively poor: – 2.19%.
From the perspective of last Tuesday’s eight day conversion, the performance of the large index is relatively good: – 1.05%, and the performance of the small index is relatively poor: – 2.09%.
In terms of market style last week, the financial performance was relatively good: – 0.62%, and the stable performance was relatively poor: – 2.76%.
As of March 18, the PE (TTM) of Shanghai composite index was 12.23 times, that of Shenzhen composite index was 31.98 times and that of gem was 52.38 times.
From the perspective of PE, in shenwanyi industry, leisure services are significantly higher than the historical average, and the industry valuation quantile is 86.6%; The valuation of electrical equipment and automobile industry is slightly higher than the historical average, and the industry valuation quantiles are 83.7% and 81.1% respectively. The valuation of electronics, non-ferrous metals, steel, media and environmental protection industries is significantly lower than the historical average, and the industry valuation quantiles are 4%, 6.3%, 11.3%, 6.0% and 6.9% respectively.
As of March 18, the price earnings ratio of S & P 500 was 21.94 times, up 6.14% from the previous week, and the price earnings ratio of Dow Jones Industrial was 22.57 times, up 5.50% from the previous week; The price earnings ratio of the NASDAQ index was 32.42 times, up 8.14% from the previous week.
As of March 18, the price to book ratio of Hang Seng in Hong Kong was 1.03 times, an increase of 3.92% over the previous week, and the price to book ratio of Hang Seng China enterprise index was 0.97 times, an increase of 4.40% over the previous week; Hang Seng Hong Kong’s 35 price to book ratio was 1.06 times, up 2.51% from the previous week.
Risk tip: the epidemic situation is repeated, the liquidity is lower than expected, and the market fluctuates sharply
