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市场跌到底了吗?一图读懂全球股市当前估值

Has the market fallen to the bottom? Read the current valuation of global stock markets in one chart

moomoo News ·  Sep 26, 2022 05:44

Hong Kong stocks are currently valued at the cheapest in the past decade; the S & P 500 is trading at a price-to-earnings ratio below the 70 per cent trading day of the past decade.

Under the influence of high inflation and continued interest rate hikes by the Federal Reserve, global markets have been falling recently.

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Judging from the price-to-earnings ratios of the world's major indices over the past decade, valuations in many markets are already at historically low levels (below the 10% quantile), such as the Australian S & P 200 index, the Hang Seng index and the state-owned enterprise index.

Judging from the horizontal comparison of the valuations of the world's major indices, although the US stock market has retreated sharply recently, ranking at the bottom of the global stock market, overall, the US still has the highest valuation. The Dow, Nasdaq and S & P 500 are trading in historical quantiles of 49%, 18% and 30%, respectively.

Judging from the quantiles of the index price-to-book ratio in the past 10 years, the current index price-to-book ratio below the historical central level (50% quantile) are the China Enterprises Index, the Hang Seng Index, the Shanghai Composite Index, the Korean Composite Index, the UK's FTSE 100 Index, the Australian S & P 200 Index and so on. The price-to-book ratios of the Dow and the s & p 500 are higher than 80% of the trading days of the past decade.

Michael Hartnett, Wall Street's most accurate analyst and Bank of America Corporation strategist in 2022, pointed out that US stocks will fall further as the financial environment tightens, geopolitical risks rise and the outlook for global economic growth is bleak. He expects the S & P 500 to trade between 3300 and 3500.

016.pngBofA Merrill Lynch bull-bear index returns to "maximum bearish" level

Is the worst level of investor sentiment since the global financial crisis.

Do you think the market will still fall?

How long will this bear market last?

Welcome to leave a message for discussion in the comments area.

Edit / lydia

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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