China Tower’s Stock Price Plummets to 1.08 HKD, Suffering a Hefty 7.69% Drop

China Tower (788)

1.08 HKD -0.09 (-7.69%) Volume: 1197.29M

China Tower’s stock price is currently at 1.08 HKD, experiencing a drop of -7.69% this trading session, despite a positive year-to-date performance of +31.71%. With a trading volume of 1197.29M, investor interest remains high, reflecting the dynamic nature of this stock in the market.

Latest developments on China Tower

China Tower (00788) experienced a bullish block trade today, with 3 million shares exchanged at a price of $1.18, resulting in a turnover of $3.54 million. This significant transaction likely influenced the stock price movements of China Tower throughout the trading day. Investors will be closely monitoring the impact of this block trade on the company’s overall performance and market sentiment.

China Tower on Smartkarma

Analyst coverage on China Tower on Smartkarma indicates 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. Passives will need to buy 2x ADV in China Tower, and there has been an increase in cumulative excess volume and short interest in CICC. The listing of Midea Group Co Ltd A (000333 CH) H-shares could also impact the ETF prior to the next scheduled rebalance in December.

In another report by Brian Freitas, it is suggested that China Tower could be a high probability inclusion in the FXI ETF in September, with shorts covering China Tower and increasing in CICC. The cumulative excess volume curve for both stocks has shown changes, with China Tower experiencing a noticeable increase. The possibility of one change for the ETF in September is highlighted, with China Tower being a potential inclusion and CICC a potential deletion based on market trends and positioning.

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, is positioned for a promising long-term outlook based on its Smartkarma Smart Scores. With top scores in both value and dividend, the company demonstrates strong financial health and commitment to rewarding its investors. While growth and resilience scores are slightly lower, the company still maintains a solid overall outlook with momentum on its side. China Tower’s focus on telecommunication towers construction and maintenance, along with ancillary facilities management, positions it well for continued success in the Chinese market.

As a leader in the telecommunication industry in China, China Tower Corporation Limited’s Smartkarma Smart Scores point towards a bright future ahead. With high scores in value and dividend, the company showcases its stability and commitment to shareholders. While growth and resilience scores are not as high, the company’s momentum indicates potential for continued success. China Tower’s wide range of services provided throughout China, including telecommunication towers construction and maintenance, positions it as a key player in the market for 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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