Data:2009-12-12 2:34
Category: Money tips Release Date: 2006-11-15
At present nearly a thousand-point mark broader market fell again, most industries and valuation of listed companies and overseas markets has been integration. Some of the dynamics of the stock price-earnings ratio is lower than external markets. This offers investors a stock selection ideas: In the "converging market" price-earnings ratio should be selected stocks with the overseas market upside down.
Such as the current electronic information industry, the valuation of individual stocks there exists a certain degree of inversion. At present, A shares of the telecommunications equipment industry, after excluding ST and the loss of the overall stock price-earnings ratio is about 34.0 times, leading the company's price-earnings ratio is only 22 times. The FXI (FTSE) the communications equipment industry price-earnings ratio of 38.9 times, leading the company's dynamic price-earnings ratio of 30.1 times. It can be seen that the current Shanghai and Shenzhen A shares of communications equipment industry as a whole the valuation levels are now close to or lower than the international valuation standards, which implies a certain degree of investment opportunities.
Net return on assets from the point of view, China's mainland A shares of communications equipment manufacturing, better than the international level the same industry, since the latter in 2004 the average rate of return on net assets -41.87%, while the mainland A shares of communications equipment manufacturing industry The net return on assets was 1.80%, even after excluding negative values reached 6.32%, although still lower than all the A shares (not bound by a negative value) of 11.19%, but taking into account the past two years inside and outside the telecommunications equipment industry is still in a weak position period, its performance is still good opportunities for the market outlook may be at hand.
From the entire point of view of the electronic information industry in the Mainland market, communications, computer, radio and television industries, the average price-earnings ratio is higher than the average of the mainland A-share market, but outside the major sectors of the market indicators of the project compared to the gap is not Great. Therefore, in Shanghai and Shenzhen A-share and process of integration into external markets, investors should pay attention to the problem with an international perspective, seize a number of overseas market valuations lower than the plate and stocks, we can grasp the integration of investment opportunities.
