China Tower’s Stock Price Soars to 1.04 HKD, Marking a Robust 2.97% Uptick

China Tower (788)

1.04 HKD +0.03 (+2.97%) Volume: 382.38M

China Tower’s stock price stands at 1.04 HKD, showcasing a positive surge of +2.97% this trading session, backed by a high trading volume of 382.38M shares. With a significant YTD percentage change of +26.83%, the stock continues its strong performance, making it a potential investment hotspot in the Chinese market.

Latest developments on China Tower

Today, China Tower (00788) experienced a mix of bullish and bearish block trades that influenced its stock price movements. A bullish block trade of 4.5 million shares at $1.04 resulted in a turnover of $4.68 million, while a bearish block trade of 4.3 million shares at $1.03 led to a turnover of $4.429 million. Additionally, another bullish block trade of 2.6 million shares at $1.03 generated a turnover of $2.678 million. These trades reflect the ongoing market activity surrounding China Tower and may contribute to fluctuations in its stock price today.

China Tower on Smartkarma

Analyst coverage on China Tower on Smartkarma indicates potential changes in the iShares China Large-Cap (FXI) ETF. Brian Freitas suggests that China Tower (788 HK) could replace China International Capital Corporation (3908 HK) in the ETF at the close on 20 September. The analysis shows that there is more positioning and short interest in CICC compared to China Tower, with cumulative excess volume and short interest on the rise for 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, it is highlighted that China Tower is a high probability inclusion in the FXI ETF for September, while CICC 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 analysis suggests that only one change is expected for the ETF in September, unless Wuxi Apptec underperforms other stocks by 3% over the next 4 weeks, which could lead to an additional change. Passives are advised to trade 1x ADV in preparation for potential ETF adjustments.

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 operating in China, has received high scores in both value and dividend categories, indicating strong financial performance and potential for returns for investors. However, its growth score is slightly lower, suggesting a moderate outlook for expansion. In terms of resilience and momentum, the company has room for improvement, with scores indicating some vulnerability and a slower pace of development.

Looking ahead, China Tower’s overall outlook appears positive, with its solid value and dividend scores serving as a strong foundation for future growth. With a focus on enhancing resilience and momentum, the company can position itself for long-term success in the competitive telecommunications industry in China.

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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