Interesting story in the latest issue of Private Eye, no. 1355 (content not online). Through its lobbying company MHP Communications, Huawei paid £8600 to attend a networking dinner at the Conservative party conference in October, with “senior members of the frontbench team” (i.e government ministers). This payment was declared to the Electoral Commission, but only in MHP’s name. Under questioning from the Eye they called this an “administrative error” and said they would ask the Commission to change the entry. Huawei must be delighted that access to UK government ministers is so cheap. The pygmies of Westminster show their value.
The downward run of major stocks continued on a milder trajectory today, with only Sinopec showing any growth, oddly enough, and five stocks finishing flat on the day. Despite all the hubbub over its deal with Apple, China Mobile continued down, by 0.61%. Its gains over the past month have almost disappeared. The worst performer of the day was Noble Group, down 1.94%. (Anyone interested in the formation and operations of the Hong Kong trading houses Noble Group and Jardine Matheson should read Tai Pan and Noble House, both by James Clavell, and both based on the history of Jardine Matheson. I have just started watching the TV adaptation of Noble House, which stars a pre-Bond Pierce Brosnan: slightly cheesily 80s, but very good).
The Shanghai Composite Index finished down marginally, by 1.37 points or 0.06%, to close at 2,202.80.
||52wk high||52wk low||EPS||P/E|
|China Construction Bank||4.36||-0.01 (-0.23%)||1.09B||5.19||3.9||CN¥0.85||5.15|
|Agricultural Bank||2.55||-0.02 (-0.78%)||828,224.98M||3.28||2.38||CN¥0.50||5.08|
|Bank of China||2.79||0.00 (0.00%)||778,824.25M||3.26||2.48||CN¥0.53||5.25|
|China Mobile||80.90*||-0.50 (-0.61%)||1.63B||91.8||74.9||HK$8.17||9.9|
|Noble Group||1.01||-0.02 (-1.94%)||6,693.35M||1.27||0.785||SGD0.04||28.28|
|China State Construction||3.39||0.00 (0.00%)||101,700.00M||4.18||2.9||CN¥0.62||5.5|
|China Railway Construction||5.16||0.00 (0.00%)||63,661.71M||6.49||3.95||CN¥0.84||6.13|
|China Railway Group||2.88||0.00 (0.00%)||61,343.71M||3.41||2.3||CN¥0.44||6.57|
|SAIC Motor||15.49||-0.02 (-0.13%)||170,786.02M||19||11.83||CN¥2.05||7.55|
|China Life Insurance||15.42||-0.24 (-1.53%)||435,841.75M||22.7||12.88||CN¥0.97||15.95|
|Dongfeng Motor||12.70*||-0.14 (-1.09%)||109,424.72M||13.26||9.48||HK$1.37||9.25|
|China Shenhua||16.43||-0.06 (-0.36%)||326,786.47M||25.7||15.51||CN¥2.25||7.3|
|Ping An Insurance||41.56||-0.17 (-0.41%)||328,994.88M||53.27||31.69||CN¥3.45||12.05|
|China Telecom||3.90*||-0.05 (-1.27%)||315,636.24M||4.46||3.48||HK$0.26||15.14|
|China Communications Construction||4.29||-0.02 (-0.46%)||69,389.61M||5.79||3.8||CN¥0.81||5.3|
|Bank of Communications||4.13||-0.01 (-0.24%)||306,705.07M||5.68||3.68||CN¥0.84||4.9|