泓观数据 | 2025年第48周

Market Performance - The CSI 300 index rose by 1.64% this week, with a daily average trading volume declining again [1] - The growth style index led the performance with a 4.65% increase, while the financial sector only gained 0.10% [1][2] - The Hang Seng Index increased by 2.53%, outperforming the CSI 300, with the materials sector leading at 4.28% [4][5] Sector Performance - Among the 11 first-level industries in the CSI, telecommunications, information technology, and materials showed the highest gains, while energy, real estate, and finance experienced the largest declines [1] - The weighted average price-to-earnings (P/E) ratio for the CSI 300 is 17.04, with a median P/E of 21.66 [3] - The Hang Seng Index's financial sector has a weighted P/E of 9.02, while the non-financial sector stands at 19.97 [6] Valuation Metrics - The median P/E for the Hang Seng Index is 15.13, with a weighted P/E of 13.23 [6] - The S&P 500 index has a median P/E of 25.36, with a weighted P/E of 28.91 [8] - The valuation metrics indicate that the financial sector in both the CSI 300 and Hang Seng Index remains lower compared to non-financial sectors [3][6] Commodity Market - The Nanhua Commodity Index rose by 1.99% this week, with precious metals leading the gains [30][31] - The energy sector showed a slight rebound, while oilseeds and oils experienced a mild decline [30]