CHINA / Taiwan, HK, Macao |
HK blue chips seen hitting record on China Mobile(Reuters)Updated: 2007-01-25 09:42 HONG KONG - Hong Kong stocks are expected to set a fourth-straight record on Thursday, pacing higher global equity markets and led by China Mobile after it neared its life high in the previous day as investors switch to blue chips. "Some of the funds are switching out of H shares to chase the large-cap blue chips -- they're a bargain compared to the H shares," said Philip Chan, head of research at CAF Securities. "China Mobile consolidated a bit yesterday to provide a reason for the stock to go further. The rally is in response to its monthly stats. The market is confident on this counter." China Mobile has been on an uptrend since reporting it added 4.83 million subscribers in December, the largest since its record monthly addition in March. The benchmark Hang Seng Index rose 0.3 percent to a record closing high of 20,821.05 on Wednesday. STOCKS TO WATCH: * China Southern Airlines The nation's biggest carrier by fleet size said on Wednesday that it was in talks with other foreign carriers besides Air France KLM for an air cargo joint venture. China Southern last traded at HK$3.60. * Guangzhou Shipyard International Co. Ltd. The company said on Thursday it expected to post a more than 150 percent increase in net profit for 2006 due to strong demand. |
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