China Stock Watch 7/11/13

As we saw in yesterday’s business briefs, with the third plenum of the Communist Party coming up (November 9-12), there has been a push to drive up the stock market to show the leadership is a good steward of the Chinese economy. This might be good news for investors, but continued government interference with publicly-listed companies (though the state often owns the parent groups) for petty political reasons does not augur well. Readers in any doubt how hard-wired the party is, even private companies, should read Richard McGregor’s excellent The Party: The Secret World of China’s Communist Rulers.

Of the day’s stocks, fourteen showed a rise, with five falling and SAIC Motor static. Of the risers, China Communications Engineering and Dongfeng Motor did best, rising 1.68% and 1.61% respectively. It’s unlikely this has anything to do with company performance. Jardine Matheson was the worst performer of the top twenty, falling 0.45% on news of subsidiary Jardine Cycle & Carriage having a 13% decline in revenues and a 31% fall in profits.

Name Symbol Price Change Mkt cap (RMB)
52wk high 52wk low EPS P/E
Sinopec 600028 4.78 +0.06 (1.27%) 557,182.07M 6.39 4.05 CN¥0.62 7.77
ICBC 601398 3.83 +0.03 (0.79%) 1.34B 4.53 3.4 CN¥0.74 5.21
China Construction Bank 601939 4.33 +0.04 (0.93%) 1.08B 5.19 3.82 CN¥0.85 5.12
Agricultural Bank 601288 2.55 +0.02 (0.79%) 828,224.98M 3.28 2.38 CN¥0.50 5.08
Bank of China 601988 2.8 +0.02 (0.72%) 781,615.74M 3.26 2.48 CN¥0.53 5.27
China Mobile 941 81.30* +0.05 (0.06%) 1.63B 91.8 74.9 HK$8.13 9.99
Noble Group N21 1.07 +0.01 (0.95%) 7,070.06M 1.3 0.785 SGD0.05 23.47
China State Construction Engineering 601668 3.25 +0.01 (0.31%) 97,500.00M 4.18 2.9 CN¥0.62 5.28
CNOOC 883 15.46* -0.04 (-0.26%) 690,249.67M 17.38 12.04 HK$1.88 8.23
China Railway Construction 601186 5.04 -0.01 (-0.20%) 62,181.21M 6.49 3.95 CN¥0.81 6.24
China Railway Group 601390 2.81 +0.01 (0.36%) 59,852.72M 3.38 2.3 CN¥0.44 6.41
SAIC Motor 600104 14.69 0.00 (0.00%) 161,965.57M 19 11.83 CN¥2.05 7.16
New China Life Insurance 601336 22.48 +0.20 (0.90%) 70,127.41M 32.36 17.63 CN¥1.46 15.38
Dongfeng Motor 489 11.36* +0.18 (1.61%) 97,879.12M 13.26 9.36 HK$1.37 8.32
Ping An Insurance 601318 36.57 -0.04 (-0.11%) 289,493.31M 53.27 31.69 CN¥3.45 10.6
China Telecom 728 3.98* -0.01 (-0.25%) 322,110.83M 4.54 3.48 HK$0.26 15.52
China Communications Engineering 601800 4.21 +0.07 (1.69%) 68,095.64M 5.79 3.8 CN¥0.81 5.2
Bank of Communications 601328 4.16 +0.01 (0.24%) 308,932.93M 5.68 3.68 CN¥0.84 4.94
Jardine Matheson J36 53.26 0.24 (-0.45%) 16,297.56M 70 51.02 4.59 11.61
Aluminum Corp. of China 601600 4.03 +0.04 (1.00%) 54,503.69M 5.38 3.01 -CN¥0.42

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