China Tower’s Stock Price Soars to 1.02 HKD, Witnessing a Stellar Increase of 0.99%

China Tower (788)

1.02 HKD +0.01 (+0.99%) Volume: 114.38M

China Tower’s stock price is currently performing at 1.02 HKD, marking a positive trading session with an increase of +0.99% and an impressive trading volume of 114.38M. With a remarkable YTD percentage change of +24.39%, the stock continues to show robust growth, making it a notable performer in the market.

Latest developments on China Tower

China Tower Corporation Limited (HKG:788) has seen fluctuations in its stock price today, with public companies holding 21% of the shares while private companies control 49% of the company. The day started with a bearish block trade of 2.6 million shares at $1.02, resulting in a turnover of $2.652 million. However, things took a positive turn later in the day with a bullish block trade of 3 million shares at $1.04, generating a turnover of $3.12 million. Goldman Sachs has shown confidence in the company by mildly increasing their target price for CHINA TOWER (00788.HK) to $1.16, citing a stable outlook.

China Tower on Smartkarma

Analyst coverage on China Tower on Smartkarma indicates a potential change in the iShares China Large-Cap (FXI) ETF in September. According to Brian Freitas, there is a high probability that China Tower (788 HK) will replace China International Capital Corporation (3908 HK) in the ETF. Short interest has been decreasing in China Tower while increasing in CICC, suggesting a shift in market sentiment towards these stocks.

In another report by Brian Freitas on Smartkarma, it is highlighted that passives will need to buy 2x ADV in China Tower as it replaces CICC in the FXI at the close on 20th September. The research points out that there is more positioning and short interest in CICC compared to China Tower. With the upcoming listing of Midea Group Co Ltd A (000333 CH) H-shares, there could be further changes for the ETF before the scheduled rebalance in December.

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 from Smartkarma Smart Scores. This indicates a positive long-term outlook for the company in terms of financial stability and returns for investors. However, the company scored lower in growth, resilience, and momentum, suggesting potential challenges in terms of future growth and adaptability to market changes.

Despite the lower scores in growth, resilience, and momentum, China Tower’s strong value and dividend scores reflect its solid foundation in the telecommunication industry. With a focus on telecommunication towers construction, maintenance, and ancillary facilities management, China Tower is well-positioned to continue providing essential services throughout China, ensuring a steady income stream for investors in the long run.

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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