China Stock Watch 3/1/14

Bloodbath. Every single major Chinese stock fell today. The range of movement varied between a gentle fall of 0.17% (Dongfeng Motor) to precipitous declines of 4.03% (CNOOC) and 4.81% (SAIC Motor). News of local government debt rollovers affects every sector of the Chinese economy, from high finance to nuts n’ bolts infrastructure. With fixed asset investment considerable proportions of Chinese economic activity and the failure of investments to return anticipated (or claimed) revenues, income streams of local governments will be lower, while debt management will claim greater shares – unless favourable terms are granted, but then this affects the banks, and their non-performing loan ratios. So it’s all something of a dilemma, to say the least.

The Shanghai Composite Index closed down 32.84 points (-1.55%), at 2,083.14. My bet, as I’ve said, is that strenuous efforts will be made to avoid breaking the 2000 barrier.

Name Price Change Mkt cap 52wk high 52wk low EPS P/E
Sinopec 4.38 -0.10 (-2.23%) 510,555.94M 7.03 4.05 CN¥0.62 7.12
PetroChina 7.64 -0.07 (-0.91%) 1.40B 9.5 7.08 CN¥0.68 11.31
ICBC 3.57 -0.01 (-0.28%) 1.25B 4.53 3.4 CN¥0.74 4.85
China Construction Bank 4.07 -0.07 (-1.69%) 1.02B 5.19 3.8 CN¥0.85 4.81
Agricultural Bank 2.45 -0.03 (-1.21%) 795,745.60M 3.28 2.38 CN¥0.50 4.88
Bank of China 2.57 -0.05 (-1.91%) 717,411.58M 3.26 2.48 CN¥0.53 4.84
China Mobile 78.60* -1.60 (-2.00%) 1.58B 91.8 74.9 HK$8.20 9.59
Noble Group 1.04 -0.03 (-2.35%) 6,892.16M 1.27 0.785 SGD0.04 28.79
China State Construction 3.09 -0.05 (-1.59%) 92,700.00M 4.18 2.9 CN¥0.62 5.02
CNOOC 13.80* -0.58 (-4.03%) 616,134.90M 17.38 12.04 HK$1.89 7.29
China Railway Construction 4.52 -0.17 (-3.62%) 55,765.69M 6.49 3.95 CN¥0.84 5.37
China Railway Group 2.63 -0.05 (-1.87%) 56,018.74M 3.41 2.3 CN¥0.44 6
SAIC Motor 13.46 -0.68 (-4.81%) 148,404.13M 19 11.83 CN¥2.05 6.56
China Life Insurance 14.57 -0.56 (-3.70%) 411,816.74M 22.7 12.88 CN¥0.97 15.07
Dongfeng Motor 11.98* -0.02 (-0.17%) 103,221.11M 13.28 9.48 HK$1.38 8.7
China Shenhua 15.37 -0.45 (-2.84%) 305,703.46M 25.7 15.36 CN¥2.25 6.83
Ping An Insurance 40.28 -1.45 (-3.47%) 318,862.19M 53.27 31.69 CN¥3.45 11.68
China Telecom 3.76* -0.10 (-2.59%) 304,305.70M 4.46 3.48 HK$0.26 14.55
China Communications Construction 3.97 -0.07 (-1.73%) 64,213.70M 5.79 3.8 CN¥0.81 4.91
Bank of Communications 3.8 -0.04 (-1.04%) 282,198.36M 5.68 3.65 CN¥0.84 4.51

 

Week’s Movers

Two stocks showed no movement on the week – ICBC and Bank of Communications. The rest showed a decline over the week, with the largest seen by China Telecom (-3.84%) and SAIC Motor (-3.72%).

faller

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