A股市场估值跟踪七十五：消费板块估值上升

Group 1 - The report analyzes the valuation of major global indices, highlighting that the S&P 500 is closest to its historical peak, being 16.56% lower than its highest value, while the Hang Seng Index is 25.97% above its historical low [1][7] - The report indicates that the A-share market saw an increase in valuation during the week of March 11-15, with significant policy signals from the China Securities Regulatory Commission aimed at enhancing the quality of listed companies [7][10] - Among the major sectors, coal saw the largest increase in closing prices at 4.52%, while non-ferrous metals experienced the largest decline at -3.8% [19][53] Group 2 - The report details that 21 sectors experienced an increase in PE (TTM) ratios, while 9 sectors saw a decrease during the week of March 11-15 [51][52] - The consumer sector showed the largest increase in valuation, with consumer services rising by 6.55%, followed by light industry manufacturing at 4.95% [53][48] - The report notes that the current PE (TTM) values for the top three sectors are computer, defense and military, and electronics, while the bottom three are banking, construction, and coal [49][50] Group 3 - The report highlights that the risk premium for major A-share indices showed differentiation, with the Shanghai Composite Index increasing by 0.02% during the week of March 11-15 [38][60] - The report indicates that the risk premium for the ChiNext Index decreased by 0.20%, reflecting a downward trend in its valuation [59][60] - The report also mentions that the valuation contribution from the CSI 500 was the most significant during the week, indicating a notable change in market dynamics [26][53]