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银行板块为何长期低估值从银行股在二级市场的表现来看,投资者对中国的银行业极为担忧。一些银行的市盈率甚至到了5倍,16家上市银行的市盈率普遍在10倍以内,若伴随着业绩的继续增长,股价再继续趴着不动,市盈率还会继续下降。目前中国银行业的市盈率和估值应该算是全球上市银行里面最低的,甚至比其在香港的H股价格还低很多,银行股A/H价格普遍倒挂。显然,内地投资者低估了银行股,中国的银行经营太悲观,内地投资者对银行股都是“用脚投票”。如果目前内地投资者继续低估银行股,一旦RQFII进来后,境外投资者肯定会来买相对比较便宜的银行股,底部又会被他们拿走,而且任何一个股票的超低估值都是在人们情绪过度悲观时出现,因此在我看来目前的银行股就处于价值洼地。市场和投资者之所以不认可银行股,主要是担心商业银行陷入地方政府融资平台的债务之中无法自拔,还担
Why long-term underestimate the banking sector From the banking stocks in the secondary market performance, investors are extremely worried about China’s banking sector. Some banks even have a P / E of 5x, and 16 listed banks generally have a P / E of 10x or below. If the performance continues to grow, the stock price will continue to stay on the same side as before and the price-earnings ratio will continue to decline. Currently, the P / E ratio and valuation of China’s banking sector should be among the lowest in the world’s listed banks, even lower than the H-shares in Hong Kong. The A / H price of bank stocks is generally upside-down. Obviously, mainland investors underestimated banking stocks. China’s banking business is too pessimistic. Mainland investors are “voting with banks” for banking stocks. If mainland investors continue to underestimate banking stocks at present, once RQFII comes in, overseas investors will definitely buy relatively cheaper banking stocks and the bottom will be taken away by them. Moreover, the underestimation of any one stock is in people Emotions appear too pessimistic, so in my opinion the current banking stocks are in depression. The reason why the market and investors do not recognize bank shares, mainly worried about the commercial banks into the local government financing platform indecisive, but also to bear