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CHINA TELECOM CORPORATION LIMITED

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Hong Kong-Listed Auto, Telecommunications Stocks Rise in Midday Trade

06/21/2021 | 02:06am EDT

By Justina Lee

Hong Kong-listed auto and telecommunications stocks were higher at midday trade Monday, propelled by China's policy moves and a relative lack of exposure to potentially higher interest rates in the U.S., analysts say.

Auto stocks were among the best performers on the Hang Seng Index, with Geely Automobile 4.6% higher, taking its gains this month to 27% while notching its eighth daily gain in 10 sessions. Great Wall Motor advanced 5.1%, taking June's gains to 13%.

Automobile makers have been supported recently by growing demand for electric vehicles, coupled with Beijing's goal of boosting sales of new energy vehicles to curb the country's reliance on fossil fuels, brokerage IG said. They are likely to remain buoyed in the near term, IG added, citing their lower exposure to changes in U.S. interest rates, compared with stocks in sectors such as banking.

Telco stocks were also higher, with state-owned China Telecom up 8.2% after saying that its cash distributed in 2021 will amount to at least 60% of profit attributable to equity holders. China Mobile gained 3.4% and China Unicom rose 1.9%.

The Hang Seng Index was 1.5% lower, weighed overall by the U.S. Federal Reserve's hawkish signals in recent days.

Write to Justina Lee at justina.lee@wsj.com

(END) Dow Jones Newswires

06-21-21 0205ET

Stocks mentioned in the article
ChangeLast1st jan.
CHINA MOBILE LIMITED -2.69% 48.75 End-of-day quote.10.29%
CHINA TELECOM CORPORATION LIMITED -3.88% 2.97 End-of-day quote.38.14%
CHINA UNICOM (HONG KONG) LIMITED -1.86% 4.21 End-of-day quote.-5.39%
GEELY AUTOMOBILE HOLDINGS LIMITED -1.27% 23.4 End-of-day quote.-11.70%
GREAT WALL MOTOR COMPANY LIMITED -4.82% 32.55 End-of-day quote.22.37%
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Financials
Sales 2021 418 B 64 514 M 64 514 M
Net income 2021 23 754 M 3 666 M 3 666 M
Net Debt 2021 26 985 M 4 165 M 4 165 M
P/E ratio 2021 8,93x
Yield 2021 6,05%
Capitalization 200 B 30 902 M 30 917 M
EV / Sales 2021 0,54x
EV / Sales 2022 0,48x
Nbr of Employees 277 809
Free-Float 17,1%
Chart CHINA TELECOM CORPORATION LIMITED
Duration : Period :
China Telecom Corporation Limited Technical Analysis Chart | 728 | CNE1000002V2 | MarketScreener
Technical analysis trends CHINA TELECOM CORPORATION LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 24
Last Close Price 2,48 CNY
Average target price 3,32 CNY
Spread / Average Target 34,1%
EPS Revisions
Managers and Directors
Rui Wen Ke Chairman & Chief Executive Officer
Zheng Mao Li President, COO & Executive Director
Min Zhu CFO, Secretary, Executive Director & Executive VP
Yi Xun Sui Chairman-Supervisory Board
Er Ming Xu Independent Non-Executive Director
Sector and Competitors