On March 23, the A-share market was under overall pressure, and the small and medium-cap and science and technology innovation broad-based indexes weakened simultaneously: the CSI 500 Index closed down 4.1%, the Science and Technology Innovation 100 Index fell 4.5%, the CSI 1000 Index fell 4.8%, the GEM MidCap 200 Index fell 4.9%, and the CSI 2000 Index led the decline of 5.4%.
According to Wind data, as of March 20, 2026, from a valuation perspective:
The rolling price-to-earnings ratio of the CSI 500 Index is 35.1 times, and the valuation score since its release in 2007 is 66.9%;
The rolling price-to-earnings ratio of the CSI 1000 Index is 47.2 times, and the valuation score since its release in 2014 is 67.1%;
The rolling price-to-earnings ratio of the CSI 2000 Index is 155.1 times, released on August 7, 2023;
The rolling price-to-earnings ratio of the Science and Technology Innovation 100 Index is 126.2 times, released on August 7, 2023;
The rolling price-to-earnings ratio of the GEM Midcap 200 Index is 103.1 times, released on November 15, 2023.
The capital side shows that CSI 1000 ETF E Fund (159633, feeder fund A/C: 016630/016631) had over 10 million net subscriptions throughout the day, and received a net inflow of 100 million yuan last Friday. This product is a low-rate product (management fee 0.15%/year + custody fee 0.05%/year), tracks the CSI 1000 Index, fully covers 11 CSI first-level industries, and reflects the overall performance of A-share small and medium-sized companies.
Risk warning: Funds have risks, so investment needs to be cautious.
