China Mobile surges more than 9% to hit new record high

China’s three largest telecoms operators continued to rally on Monday, with China Mobile surging more than 9% hit 97.87 yuan at one
China’s three largest telecoms operators continued to rally on Monday, with China Mobile surging more than 9% hit 97.87 yuan at one
Hong Kong stocks rallied as the impact of the Silicon Valley Bank’s collapse is easing, Premier Li Qiang’s speech lifted market confidence and the Chinese yuan strengthened sharply against the US dollar amid expectation of slower rate hikes by the US Federal Reserve.
Shares of Kaisai Group tumbled 25% in Hong Kong, Ronshine China sliding more than 11%, Powerlong down more than 4%, CIFI Holdings down nearly 4%, Times China down nearly 3%.
Chinese automakers are sliding in Hong Kong, with Geely Auto sliding 5.4% as of 9:43 am local time, BYD Company down 5%, Nio, Great Wall Motor and Li Auto down more than 4% and Xpeng Motors down 3.3%.
Macquarie said it’s positive about China Unicom’s strong performance in industry internet, which grew 29% in 2022 from the previous year and accounting for 20% of its total revenue.
JPMorgan raised the forecast of Sinopec, PetroChina, and CNOOC’s dividend payout ratios to 80%, 60%, and 50%, respectively, from previous estimates of 75%, 45%, and 40%.
Goldman Sachs cut target price of HKEX by 1% to HK$437 from HK$441, but kept it on Conviction Buy list.
BofA Securities downgraded Chow Tai Fook, one of the world’s largest jewellery retailers, from Neutral to Underperform, and cut its target price from HK$17.6 to HK$13.2.
Hong Kong broadcaster TVB’s parent company, Television Broadcasts Limited, continues surging on Wednesday, jumping as much as over 97% to hit HK$14.36
Country Garden Services tumbles as much as 4.8% to hit HK$14.6 in Hong Kong, bringing its market value below HK$50 billion.
Shares of non-ferrous metal companies are sliding across the board in Hong Kong, with China Minmetals plunging 5%, Zhaojin Mining down 4%, China National Gold International and Zijin Mining down 2%, and Shandong Gold, Aluminum Corporation of China, and Luoyang Molybdenum down 1%.
Chinese oil companies stage a strong rally, with CNOOC surging by more than 5% to hit a new record high of HK$12.68, while its Shanghai-listed shares jumping by the daily limit of 10% to hit an all-time high of 18.92 yuan at one point.
China’s retail sales of passenger cars in the first two months reached 2.657 million units, sliding 21% from a year earlier, according to an industry association.
The company is anticipating to raise a maximum of $1 billion through the listing and the firm is working with financial advisors on the possible deal.
The Hong Kong Exchanges and Clearing plans to lower the proposed listing threshold for Specialist Technology Companies, local newspaper South China Morning Post reported citing people with the knowledge of the matter, in a move to keep the city’s attractiveness as IPO destination.
Goldman Sachs slightly raised target price of Bilibili to HK$200 from HK$197, reiterating Neutral rating
The China Retail Performance Index (CRPI) compiled by the China Commercial Federation reached 50.6% in March, up 0.3 percentage points from the previous month.
Shares of China National Offshore Oil Corporation (CNOOC) gains 3.5% to close at HK$11.98, marking a new record high. Sinopec gain 3.5%
Shares of Lenovo Group continued to rise in Hong Kong, surging over 5% to hit HK$ 7.7 at one point, marking a new high since May 2022.
Chinese e-commerce giant JD.com gained as much as 3.2% to hit HK$190.7 after launching 10 billion subsidy campaign JD.com officially launched the
Shares of Country Garden Service are slumping more than 10% in Hong Kong, after issuing profit warning.
Shares of Chinese coal companies slide across the board in the A-share market, with Shanxi Coking Coal sliding 5.3% as of 10:40
Shares of Hong Kong broadcaster TVB surge 36% to hit new high since May 2021 on live-streaming cooperation with Taobao Shares of
Jin Zhuanglong, China’s Minister of Industry and Information Technology, said China has built the world’s largest and most advanced 5G network, with
China’s telecom operators continue rallying on Monday, with China Mobile surging as much as 7.6% in Shanghai to hit a new record high of 93.59.
Chinese aerospace and defence stocks rally on Monday, with an index tracking the sector compiled by Wind Information up 1.3% as of
The Hong Kong Exchanges and Clearing is adjusting some of the consultation advice content, including potentially lowering the valuation requirement for commercialized
Shares of property developer China Vanke are sliding more than 5% in Hong Kong, while its Shenzhen-listed shares are down more than
Chinese short video platform Kuaishou Technology said it has submitted an application for an yuan counter to support the new Hong Kong
China’s top telecommunication operators continue to rally, with an index tracking the sector compiled by Wind Information surging by more than 6.5%, making it the best-performing sector in the A-share market.