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

 

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China’s three largest telecoms operators continued to rally on Monday, with China Mobile surging more than 9% hit 97.87 yuan at one point, marking a new all-time high. That brings its market value to more than 2 trillion yuan, making it the second largest stock in the A-share company and only second only to the liquor maker Kweichow Moutai. 

China Telecom is surging nearly 7% and China Unicom jumping more than 4%. 

China Mobile has said that it will increase their dividend payout ratio this year to more than 70%, while China Telecom said the company will gradually increase dividend payout ratio to more than 70% in the next three years.