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Strategies & Market Trends : HONG KONG
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To: synchro who wrote (1150)1/22/1998 9:46:00 AM
From: RealMuLan  Read Replies (1) of 2951
 
<< does anyone follow China Telecomm around here? Are they national in scope?

China Telecomm has the largest "monopoly" in China. Simply put they are the sole player in China's rapidly developing telecommunication market. I think they don't allow any foreign capitals to hold over 49% of the interest in any telecommunication companies. I am not sure whether the rule is changed, but I doubt. It is only because of the stock market sentiment is bad, otherwise, this CHL would have flied high.

And also I think because of the importance of this stock/industry in China's economy, the Chinese gov. will not allow the stock price to drop too low. By this I mean, the Chinese gov. will start to buy if the price drop to certain point. Go look at the chart, it never goes below $28. As far as I know, this is the only China's ADR holds relatively well. There must have a reason behind it. I may be wrong.
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