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衡量股市估值是否合理、风险大小、是否有投资价值,一个通用指标就是市盈率。沪市综合指数6000点,以2006年上市公司业绩为准,沪深两市A股静态市盈率为71.5倍,(高于2001年6月14日的66.99倍),以2007年上半年业绩动态市盈率为48.5倍。无论与A股市场历史纵向比较,还是与周边股市横向比较,当前A股市盈率的确明显偏高,即资产价格偏离资产价值,而引
Measuring the stock market valuation is reasonable, the size of the risk, whether there is investment value, a common indicator is the price-earnings ratio. Shanghai Composite Index 6000 points, based on the performance of listed companies in 2006, the Shanghai and Shenzhen A shares 71.5 times the static price-earnings ratio (higher than 66.99 times on June 14, 2001), the first half of 2007 earnings dynamic earnings 48.5 times. Regardless of the historical vertical comparison with the A-share market, or horizontal comparison with the surrounding stock market, the current A-share price-earnings ratio is indeed significantly higher, that is, asset prices deviate from the value of assets, and lead