China Tower’s Stock Price Soars to 1.21 HKD, Posting a Positive Surge of 0.83%

China Tower (788)

1.21 HKD +0.01 (+0.83%) Volume: 230.1M

China Tower’s stock price stands at 1.21 HKD, marking a positive trading session with a percentage increase of +0.83%. With a robust trading volume of 230.1M and an impressive YTD percentage change of +8.04%, this stock continues to showcase strong performance in the market.

Latest developments on China Tower

China Tower (00788) experienced a bearish block trade today, with 20.7 million shares being sold at $1.2 per share, resulting in a turnover of $24.84 million. This significant transaction likely impacted the stock price movement of China Tower, as investors reacted to the large volume of shares being traded at a lower price. The block trade may have been influenced by various factors such as market sentiment, company performance, or external economic conditions. As a key player in the telecommunications industry, China Tower’s stock price movements are closely watched by investors and analysts for insights into the overall market trends.

China Tower on Smartkarma

Analyst coverage on China Tower on Smartkarma indicates that the company is set to replace CICC in the FXI at the close on 20 Sep. According to Brian Freitas, passives will need to buy 2x ADV in China Tower, and there has been a noticeable increase in cumulative excess volume and short interest in CICC. The listing of Midea Group Co Ltd A (000333 CH) H-shares could potentially lead to another change for the ETF before the next scheduled rebalance in December.

In another report by Brian Freitas on Smartkarma, it is suggested that China Tower could potentially replace CICC in the FXI in September. Shorts have been covering China Tower while increasing in CICC, and the cumulative excess volume curve has recently flattened out. With the review cutoff completed, only one change is expected for the iShares China Large-Cap (FXI) ETF. China Tower is seen as a high probability inclusion, while CICC is a high probability deletion, with both stocks experiencing an increase in cumulative excess volume in the last few months, albeit at a slower pace more recently.

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, is showing strong potential for long-term growth based on its Smartkarma Smart Scores. With high scores in Value and Dividend, the company is seen as a solid investment opportunity for investors looking for stable returns. Additionally, its Growth score indicates promising future expansion opportunities in the telecommunications sector.

However, China Tower’s lower scores in Resilience and Momentum suggest potential challenges in weathering market fluctuations and maintaining a strong competitive edge. Despite this, the company’s overall outlook remains positive, especially for those seeking a reliable investment with strong value and dividend prospects in the telecommunications industry.

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.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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