China Tower’s Stock Price Drops to 1.09 HKD, Suffering a 2.68% Decline: A Closer Look at the Performance

China Tower (788)

1.09 HKD -0.03 (-2.68%) Volume: 212.05M

China Tower’s stock price currently stands at 1.09 HKD, experiencing a downturn this trading session with a percentage change of -2.68%. Despite a robust trading volume of 212.05M, the stock has struggled year-to-date, mirroring the session’s decline at -2.68%.

Latest developments on China Tower

China Tower (00788) stock price experienced fluctuations today due to a series of block trades. The day started with a bearish block trade of 1.9M shares at $1.08, followed by a bullish block trade of 1.5M shares at $1.14. This was then followed by another bearish block trade of 1.7M shares at $1.12. However, the stock price saw an increase with bullish block trades of 1.9M shares at $1.12, 2M shares at $1.12, and 6M shares at $1.12. These trades resulted in turnovers ranging from $1.71M to $6.72M, indicating significant investor interest and impacting the stock price movement throughout the day.

China Tower on Smartkarma

Analysts on Smartkarma, such as Brian Freitas, have been closely following the analyst coverage of China Tower. According to reports like “FXI Rebalance: China Tower (788 HK) Will Replace CICC (3908 HK)”, there is a bullish sentiment surrounding China Tower as it is set to replace CICC in the FXI at the close on 20 Sep. Passives will need to buy 2x ADV in China Tower, and there has been a noticeable increase in cumulative excess volume and short interest in CICC compared to China Tower.

In another report titled “FXI Rebalance Preview: China Tower (788 HK) Could Replace CICC (3908 HK)”, Brian Freitas suggests that China Tower is a high probability inclusion in the FXI ETF for September. Shorts have been covering China Tower while increasing in CICC, and the cumulative excess volume curve has flattened out. The analysis indicates that there may be just one change for the iShares China Large-Cap (FXI) (FXI US) ETF in September, with China Tower being a potential inclusion and CICC a potential deletion.

A look at China Tower 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 Tower Corporation Limited, a telecommunication company operating in China, has received high scores in Value and Dividend, indicating a positive outlook in terms of financial performance and dividend payouts. With a strong focus on providing telecommunication towers construction, maintenance, and ancillary facilities management services, the company is positioned well for long-term growth and stability.

Although China Tower scored lower in Growth and Resilience, its Momentum score suggests that the company is currently experiencing positive market momentum. This, coupled with its strong Value and Dividend scores, indicates a promising future for China Tower in the telecommunications industry. Overall, the company’s focus on providing essential telecommunication services throughout China positions it well for continued success.

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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