［8月24日］美股指数估值数据（全球股票市场反弹；美元会继续降息么；全球指数星级更新）

Core Viewpoint - The article discusses the valuation of global stock indices, U.S. Treasury indices, and the impact of the Federal Reserve's interest rate policies on global markets, highlighting the potential investment opportunities and market trends. Group 1: Market Overview - The global stock market experienced fluctuations, with a notable increase of 0.8% over the week, returning the global stock index rating to 3.0 stars [10][11][12]. - The U.S. stock market saw a slight increase of 0.54%, while non-U.S. markets performed even better, with the Chinese market leading globally [13][15][20]. - The A-share market surged over 3%, reaching a rating of 4.3 stars, indicating strong performance [17]. Group 2: Impact of Federal Reserve Policies - Recent discussions within the Federal Reserve regarding interest rate cuts have influenced market movements, contributing to a rebound in global stock markets [18][21]. - The decline in U.S. interest rates has led to increased liquidity, benefiting risk assets like stocks, and causing the U.S. dollar to depreciate against other currencies [19][24][36]. - The article notes that if the Federal Reserve continues to lower rates, it will positively impact A-shares and Hong Kong stocks, although the effect may not be as pronounced as in previous instances [29][30]. Group 3: Valuation Insights - The article provides a valuation table for various global stock indices, highlighting metrics such as price-to-earnings ratios, price-to-book ratios, and dividend yields [59][61]. - It emphasizes that certain indices are undervalued and suitable for dollar-cost averaging investments, while others are overvalued [62]. Group 4: Investment Products - The article mentions the limited availability of funds for investing in overseas markets within mainland China, contrasting with the wider variety available abroad [3][4]. - A global index advisory portfolio has been introduced, which diversifies investments across U.S., UK, Hong Kong, and A-share indices [42]. - The article also discusses the constraints on purchasing these investment products, with daily limits on investment amounts [44].