China Telecom’s Stock Price Soars to 4.78 HKD, Marking a Positive Shift of 0.84%

China Telecom (728)

4.78 HKD +0.04 (+0.84%) Volume: 89.52M

China Telecom’s stock price stands at 4.78 HKD, marking a promising increase of +0.84% this trading session with a substantial trading volume of 89.52M. The stock has shown a significant YTD growth of +27.54%, reflecting the robust performance of China Telecom (728) on the market.

Latest developments on China Telecom

China Telecom (H) stock price experienced movements today as the Hang Seng Index gained 37 points at midday, driven by a 6% increase in NONGFU SPRING shares and a hike in CN Telecoms. Additionally, CN Developers and Pharmas also saw gains, while stocks with CN-characterized valuation dropped. The HSI settled 11 points higher by the end of the day, with handsets and VSCC stocks ebbing, and medical stocks showing an upward trend.

China Telecom on Smartkarma

Analysts on Smartkarma, such as Travis Lundy, have been covering China Telecom (H) and providing bullish insights. In a recent report titled “HK Connect SOUTHBOUND Flows (To 1 Mar 2024); Continued Big Buys of SOEs (Getting Boring to Say This)”, Lundy highlighted the positive SOUTHBOUND flows and the ongoing trend of purchasing state-owned enterprises (SOEs) in sectors like oil and telecom. With upcoming ex-dates for high-dividend SOEs in the telecom sector, Lundy expects the net flows to remain positive for China Telecom (H) in the coming weeks.

The analysis also pointed out that despite some fluctuations in stock indices, the net SOUTHBOUND buying for China Telecom (H) was significant, with a notable amount of SOEs being on the buying side. With the ex-dividend date still three months away, analysts like Lundy believe that China Telecom (H) remains an appropriate target for investment, especially considering the new key performance indicators discussed by SASAC officials in late January.

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) is positioned well for long-term success based on the Smartkarma Smart Scores. With a top score in both Value and Dividend, the company is seen as a strong investment opportunity. Additionally, its high Momentum score indicates positive market sentiment and potential for growth in the future. While Resilience may be an area for improvement, the overall outlook for China Telecom (H) remains positive.

As a provider of wireline telephone, data, and internet services in China, China Telecom Corporation Limited has established itself as a key player in the telecommunications industry. With a strong focus on value and dividends, the company is well-positioned to weather economic uncertainties and maintain steady growth. Investors can look to China Telecom (H) as a reliable option for long-term investment in the ever-evolving tech sector.

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.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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