估值周报（0707-0711）：最新A股、港股、美股估值怎么看？-20250712

Group 1: A-share Market Valuation - The current PE (TTM) of the A-share market is 15.94, with a historical average of 22.57 when excluding financial and oil sectors[7] - The Shanghai Composite Index has a PE (TTM) of 13.25, while the ChiNext Index stands at 49.22, indicating significant valuation differences among indices[15] - The risk premium for the A-share market is currently at 0.79%, which is below the historical average[18] Group 2: Hong Kong Market Valuation - The Hang Seng Index has a current PE (TTM) of 10.75, with a historical maximum of 22.67 and a minimum of 7.36[58] - The Hang Seng Technology Index shows a current PE (TTM) of 19.81, reflecting a higher valuation compared to the broader market[63] - The Hang Seng Financial Index has a median PE of 7.45, indicating lower valuations in the financial sector[70] Group 3: U.S. Market Valuation - The S&P 500 Index has a current PE (TTM) of 28.02, with a historical maximum of 41.99 and a minimum of 11.21[80] - The NASDAQ Index shows a PE (TTM) of 42.43, indicating a high valuation relative to historical levels[88] - The Dow Jones Industrial Average has a current PE (TTM) of 31.24, reflecting strong market performance[92] Group 4: Sector Valuation Insights - In the A-share market, sectors like non-ferrous metals and food & beverage are currently at historically low PE levels, while sectors like computers and steel are at high PE levels[25] - The banking sector in A-shares has a PB (LF) of 0.64, indicating undervaluation compared to historical averages[28] - The consumer sector, particularly in white goods, has a PE (TTM) of 11.02, suggesting potential for growth[37]