In short, from the valuation point of view, the stock market is attractive for investment this year and next, especially when the P/E ratio of Hang Seng Technology Index is at a historically low level. At the same time, considering the marginal improvement of domestic and international economic environment and policy support, the long-term investment value of China Stock Exchange has been recognized by the market. Investors can pay attention to head companies with large market capitalization and sectors that are differentiated and complementary to A-shares, so as to obtain better return on investment.Fourth, China's Internet ETFOn November 22nd, the 11th world internet conference Wuzhen Summit ended successfully. The event attracted the participation of more than 1,800 experts from more than 130 countries, and the "next decade" of the Internet industry will remain a global concern.
China Internet ETF is an investment tool, which tracks the performance of China Internet companies listed overseas. Specifically.The last time "moderately loose monetary policy" was put forward was in 2010. In addition, the reference to "strengthening unconventional countercyclical adjustment" in the conference draft is also the first time in history.As you can see the title, we have created many new expressions, which explain the strength of domestic policies and help Hong Kong stocks and China Stock Exchange to resonate. In addition, in terms of the external economic environment, it is expected that the interest rate will be cut in a high probability, and the US dollar index and exchange rate will fluctuate downwards, which is usually beneficial to global stock markets, including China Stock Exchange. Many brokers are optimistic about the long-term investment value of Hong Kong stock technology, and suggest paying attention to large-cap head companies and sectors that are differentiated and complementary to A shares, such as large consumption, software and services, and real estate.
First, China Stock Exchange provides opportunities for global investors to invest in China's fast-growing economy, especially those industries and companies that cannot directly invest in the Chinese mainland market.Fifth, China Stock Exchange covers many industries from Internet technology, education, financial services to consumer goods.At present, the latest P/E ratio of Hang Seng Technology Index is 12.89 times, which is at a historical low. This valuation level shows the investment attraction of the current market, especially after considering the historical quantile data. For example, the price-earnings ratio of Hang Seng Science and Technology Index (market value weighted) is 20.62, and the 3-year split point is 12.77%; The P/E ratio (positive equal weight) is 15.44, and the 3-year quantile is 25.14%. These data show that the valuation of Hang Seng Science and Technology Index is relatively low, at a historical low level, regardless of the market value weighted or the price-earnings ratio calculated by equal weight method.