Chinese Equities Surge as Manufacturing in China Signals Growth for the First Time in 13 Months
November 28 2012 - 7:20AM
Marketwired
Chinese stocks received a boost last week as China's soft economy,
which is set to grow at the slowest pace in over a decade, showed
some much needed signs of improvement. The Bloomberg China-US 55
Index (CH55BN), which tracks the performance of the top 55 Chinese
equities trading in the US, surged 2.3 percent last Friday. The
Paragon Report examines investing opportunities in Chinese Equities
and provides equity research on China Mobile Ltd. (NYSE: CHL) and
Ctrip.com International, Ltd. (NASDAQ: CTRP).
Access to the full company reports can be found at:
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A recent survey has shown that manufacturing in China, the
world's second largest economy, expanded for the first time in 13
months. HSBC's Purchasing Managers' Index last week rose to 50.4
for November, any reading above 50 signals expansion. China's
leaders have slashed interest rates twice since June and have
announced $150 billion in infrastructure projects in attempts to
boost its slowing economy.
"It shows that the policy easing has continued to support a
growth recovery, and reinforces our view that growth will pick up
strongly in the fourth quarter to 8.4% from 7.4% in the third
quarter," said Nomura economist Zhiwei Zhang.
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As the leading mobile services provider in Mainland China, China
Mobile boasts the world's largest mobile network and the world's
largest mobile customer base. As of December 31, 2011, its total
customer base was approximately 650 million. Shares of the company
have gained over 15 percent year-to-date.
Ctrip.com International is a leading travel service provider of
hotel accommodations, airline tickets, packaged tours and corporate
travel management in China. The company reported revenues of $187
million for the third quarter of 2012, a 20 percent increase
year-over-year. Shares of the company have rallied over 10 percent
in the last week.
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