China Tower’s Stock Price Climbs to 1.14 HKD, Notching a Positive 0.88% Shift

China Tower (788)

1.14 HKD +0.01 (+0.88%) Volume: 154.18M

China Tower’s stock price stands at 1.14 HKD, showing a positive trading session with a percentage increase of 0.88%. The trading volume is robust at 154.18M and the year-to-date percentage change indicates a healthy growth of 1.79%. This solid performance reinforces China Tower (788) as a strong contender in the stock market.

Latest developments on China Tower

Today, China Tower (00788) experienced fluctuations in its stock price due to key events in the market. The day started with a bullish block trade of 6 million shares at $1.14, resulting in a turnover of $6.84 million. This positive momentum was further boosted by M Stanley upgrading China Tower to overweight and naming it a top pick for CN Telecoms. However, later in the day, a bearish block trade of 2.4 million shares at $1.12 led to a turnover of $2.688 million, causing some downward pressure on the stock price.

China Tower on Smartkarma

Analyst coverage on China Tower on Smartkarma indicates a bullish sentiment, with Brian Freitas highlighting the potential for China Tower (788 HK) to replace China International Capital Corporation (CICC) (3908 HK) in the iShares China Large-Cap (FXI) ETF. Passives may need to buy 2x ADV in China Tower, as shorts have been covering this stock while increasing in CICC. The listing of Midea Group Co Ltd A (000333 CH) H-shares could also impact the ETF before the next scheduled rebalance in December.

In another report by Brian Freitas on Smartkarma, it is suggested that China Tower (788 HK) is a high probability inclusion in the FXI ETF, while CICC (3908 HK) is likely to be deleted. Shorts have been covering China Tower and increasing in CICC, with a noticeable slowdown in the pace of cumulative excess volume growth for both stocks in recent months. The review cutoff has been completed, and only one change is expected for the iShares China Large-Cap (FXI) ETF in September.

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 been given high scores in Value and Dividend by Smartkarma Smart Scores. This indicates a positive long-term outlook for the company in terms of its financial stability and ability to provide returns to investors. While the Growth score is slightly lower, the company still shows potential for expansion. However, the lower scores in Resilience and Momentum suggest that China Tower may face challenges in terms of adaptability and market momentum.

China Tower’s strong Value and Dividend scores point towards a solid foundation for the company’s future growth and stability. With a focus on telecommunication towers construction and maintenance, China Tower is positioned to benefit from the increasing demand for telecommunication services in China. Although the company may need to address its Resilience and Momentum scores to navigate potential challenges and capitalize on market opportunities, its overall outlook remains positive based on the Smartkarma Smart Scores.

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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