估值周报：最新A股、港股、美股估值怎么看？-20250504

A-share Market Valuation - The current PE (TTM) for the A-share market is 14.21, with a median of 13.36 and a maximum of 30.60 for the Shanghai Composite Index[10] - The PE (TTM) excluding financials and oil & gas is 21.22, indicating a higher valuation when these sectors are excluded[7] - The A-share market's risk premium rate is currently at 3.78%[16] Hong Kong Market Valuation - The Hang Seng Index has a current PE (TTM) of 9.94, with a median of 10.23 and a maximum of 22.67[59] - The Hang Seng Technology Index shows a current PE (TTM) of 21.07, reflecting a significant valuation compared to other sectors[60] U.S. Market Valuation - The S&P 500 has a current PE (TTM) of 24.83, with a median of 20.82 and a maximum of 41.99[80] - The NASDAQ Index has a current PE (TTM) of 36.57, indicating a high valuation relative to historical averages[88] Sector-Specific Valuations - Non-bank financials, metals, and food & beverage sectors in A-shares are currently at historically low PE levels, while sectors like computing and steel are at historically high PE levels[21] - The median PB (LF) for banks is 0.70, indicating a low valuation compared to historical standards[99]