China Stock Watch 31/12/13

The major Chinese stocks ended the year on something of a positive note, with seventeen of the twenty ending the day up. As the year comes to an end, the low trading level of Chinese stocks has been garnering year-end/year-ahead commentary, with several making Chinese stocks a tip for 2014, with the South China Morning Post headline declaring “Optimism running high for Chinese shares next year“. There was also the approach of the 2000 barrier, which, as we’ve seen, is a customary sign for stocks to start rising. Certainly Chinese stocks have low P/E ratios and can seem attractive on that basis, but the concern is that reforming SOEs will diminish their economic privileges, thus cutting into margins. If they can use their predominant position in the Chinese economy to adapt and improve, as happened with some British utilities following privatisation in the 1980s, such as British Telecom and BP, then they would be worth holding. It will be a rocky road, though, and no-one can tell which will adapt successfully to a more competitive landscape.

The best performers on the day were Ping An Insurance (+1.94%), China Railway Construction (+1.73%) and Sinopec (+1.35%). Only China Mobile, on underwhelming Apple sales figures, and Dongfeng Motor fell on the day, by -0.31% and -0.82% respectively.

The Shanghai Composite Index rose 18.45 points (+0.88%) to finish the year at 2,115.98. The WSJ named Shanghai “Asia’s worst performer in 2013“.

Name Price Change Mkt cap 52wk high 52wk low EPS P/E
Sinopec 4.49 +0.06 (1.35%) 523,378.08M 7.03 4.05 CN¥0.62 7.3
PetroChina 7.71 +0.01 (0.13%) 1.41B 9.5 7.08 CN¥0.68 11.41
ICBC 3.58 +0.03 (0.85%) 1.26B 4.53 3.4 CN¥0.74 4.87
China Construction Bank 4.13 +0.04 (0.98%) 1.03B 5.19 3.8 CN¥0.85 4.88
Agricultural Bank 2.47 +0.01 (0.41%) 802,241.48M 3.28 2.38 CN¥0.50 4.92
Bank of China 2.62 +0.01 (0.38%) 731,368.99M 3.26 2.48 CN¥0.53 4.93
China Mobile 80.25* -0.25 (-0.31%) 1.61B 91.8 74.9 HK$8.17 9.82
Noble Group 1.07 0.00 (0.47%) 7,090.97M 1.27 0.785 SGD0.04 29.49
China State Construction 3.14 +0.04 (1.29%) 94,200.00M 4.18 2.9 CN¥0.62 5.1
CNOOC 14.42* +0.10 (0.70%) 643,816.32M 17.38 12.04 HK$1.89 7.64
China Railway Construction 4.7 +0.08 (1.73%) 57,986.44M 6.49 3.95 CN¥0.84 5.58
China Railway Group 2.67 +0.02 (0.75%) 56,870.73M 3.41 2.3 CN¥0.44 6.09
SAIC Motor 14.14 +0.15 (1.07%) 155,901.52M 19 11.83 CN¥2.05 6.89
China Life Insurance 15.14 +0.16 (1.07%) 427,927.64M 22.7 12.88 CN¥0.97 15.66
Dongfeng Motor 12.08* -0.10 (-0.82%) 104,082.73M 13.28 9.48 HK$1.37 8.8
China Shenhua 15.83 +0.04 (0.25%) 314,852.69M 25.7 15.36 CN¥2.25 7.03
Ping An Insurance 41.6 +0.79 (1.94%) 329,311.50M 53.27 31.69 CN¥3.45 12.06
China Telecom 3.92* 0.00 (0.00%) 317,254.89M 4.46 3.48 HK$0.26 15.22
China Communications Construction 4.03 +0.01 (0.25%) 65,184.19M 5.79 3.8 CN¥0.81 4.98
Bank of Communications 3.84 +0.04 (1.05%) 285,168.86M 5.68 3.65 CN¥0.84 4.56
Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s