A股估值全景变化（数据截至7月19日）

Market Performance - The overall A-share market (excluding oil and petrochemicals) increased by 0.3%, while the ChiNext index decreased by 0.01%[3] - The PE valuation for all A-shares rose from 13.77x on July 12 to 13.80x on July 19[26] - The PB valuation for all A-shares increased from 1.287x to 1.290x during the same period[26] Sector Analysis - The agriculture, forestry, animal husbandry, and fishery sector had the highest increase, while light industry manufacturing and textile sectors saw the largest declines[22] - The stable style sector's PE valuation rose by 1.78%, while the cyclical style sector's PE valuation fell by 1.65%[28] - The textile and clothing, pharmaceuticals, media, construction, consumer services, and light industry manufacturing sectors have notably low PE valuation levels[4] Valuation Premiums - The ChiNext's PE valuation premium over the main board decreased from 2.34 to 2.33, below the historical average of 3.72[20] - The market risk premium increased from 2.473 to 2.477, indicating a decline in market risk appetite[21] Industry Valuation Levels - The steel sector is considered extremely undervalued with a PB of 0.84, while the machinery sector is also extremely undervalued at 1.91[17] - The consumer services sector has a PE valuation of 24.62, indicating it is extremely undervalued[34]