China Telecom’s Stock Price Plummets to 4.65 HKD, Witnessing a Sharp Decline of 6.44%

China Telecom (728)

4.65 HKD -0.32 (-6.44%) Volume: 122.67M

China Telecom’s stock price is currently standing at 4.65 HKD, experiencing a decline of 6.44% this trading session with a substantial trading volume of 122.67M. However, a robust year-to-date performance shows a positive growth of 25.40%, highlighting the stock’s resilience and potential for investors who focus on telecom sector stocks in the Hong Kong market.

Latest developments on China Telecom

Today, China Telecom (H) stock price movements were influenced by various factors. The Hang Seng Index climbed 11 points at midday, driven by gains in Chinese developers and pharmaceutical companies. However, stocks with Chinese-characterized valuations experienced a drop. Additionally, JPMorgan upgraded ZTE (00763.HK) to a neutral rating, while highlighting China Mobile (00941.HK) as one of the top picks among Chinese telecom companies. These events contributed to the fluctuations in China Telecom (H) stock prices today.

China Telecom on Smartkarma

Analyst coverage of China Telecom (H) on Smartkarma by Travis Lundy shows a bullish sentiment. In his research report titled “HK Connect SOUTHBOUND Flows (To 1 Mar 2024); Continued Big Buys of SOEs (Getting Boring to Say This)”, Lundy highlights the positive SOUTHBOUND flows and the ongoing trend of buying state-owned enterprises (SOEs). He expects net flows to continue, particularly in high-dividend SOEs in the oil and telecom sectors. Despite fluctuations in stock indices, Lundy notes that H-shares with A-share pairs saw an increase in buying activity.

Lundy’s analysis indicates that the net SOUTHBOUND buying for China Telecom (H) was HK$9.1 billion in the second post-holiday week, following a significant increase in the first week. With several SOEs on the net buying side, the trend of buying high-dividend SOEs is expected to persist. The upcoming ex-dividend dates and new key performance indicators discussed by SASAC officials further support the attractiveness of these targets for investors.

A look at China Telecom Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

China Telecom (H) has received high scores across the board on Smartkarma Smart Scores, indicating a positive long-term outlook for the company. With a top score in both Value and Dividend, investors can expect strong returns and stable income from this telecommunications giant. Additionally, a solid score in Growth suggests that China Telecom (H) is well-positioned for future expansion and development in the industry. While Resilience scored lower, the company’s Momentum score of 5 indicates strong market performance and investor interest.

China Telecom Corporation Limited, a leading provider of telecommunications services in China, is poised for continued success based on its impressive Smartkarma Smart Scores. With a focus on value, dividends, and growth, the company demonstrates its commitment to delivering strong financial performance and shareholder returns. Despite facing some resilience challenges, China Telecom (H) remains a key player in the industry with a momentum score that reflects its positive market position and potential for future growth.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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