China Tower’s Stock Price Leaps to 1.10 HKD, Marking a 0.92% Increase: A Robust Performance to Watch

China Tower (788)

1.10 HKD +0.01 (+0.92%) Volume: 80.77M

China Tower’s stock price is currently trading at 1.10 HKD, marking an increase of +0.92% this trading session, with a substantial trading volume of 80.77M. Despite this positive shift, the stock has experienced a slight decrease of -1.79% YTD, reflecting its dynamic performance in the market.

Latest developments on China Tower

China Tower (HKG:788) has been making significant strides in improving its returns on capital, which has caught the attention of investors. The Ministry of Industry and Information Technology (MIIT) has urged three major telecom companies, including China Tower, to accelerate the digital transformation of the real economy through 5G and industrial internet services. This push towards innovation and growth was reflected in bullish block trades of China Tower’s shares, with 1.9 million shares traded at $1.1 and a turnover of $2.09 million, followed by another trade of 2.7 million shares at the same price, resulting in a turnover of $2.97 million. These events have likely contributed to the fluctuations in China Tower’s stock price today.

China Tower on Smartkarma

Analyst coverage on China Tower on Smartkarma, a platform for independent investment research, suggests potential changes in the iShares China Large-Cap (FXI) ETF. According to Brian Freitas, China Tower (788 HK) is likely to replace China International Capital Corporation (3908 HK) in the ETF at the close on 20 September. The analysis indicates that there is more positioning and short interest in CICC compared to China Tower. Passives will need to buy 2x ADV in China Tower, and the listing of Midea Group Co Ltd A (000333 CH) H-shares could lead to further changes before the next scheduled rebalance in December.

In another report by Brian Freitas on Smartkarma, it is suggested that China Tower could replace CICC in the FXI ETF in September. Shorts have been covering China Tower while increasing in CICC, and the cumulative excess volume curve for both stocks has shown varying trends. The analysis points towards a high probability of China Tower being included in the ETF while CICC is likely to be removed. With just one expected change for the ETF in September, the research highlights the dynamics of positioning and short interest in the two companies.

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 telecommunications company in China, is poised for a positive long-term outlook according to Smartkarma Smart Scores. With top scores in both value and dividend, the company is seen as a strong player in the market. Additionally, its momentum score of 4 indicates a promising trajectory for growth and development in the future.

Despite scoring lower in resilience, China Tower’s overall outlook remains optimistic with a solid foundation in value and dividends. As a key player in the telecommunications industry in China, the company’s focus on tower construction, maintenance, and ancillary services positions it well for continued success and growth in the long term.

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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