Another particularly poor day for major stocks, with a full sixteen falling on the day, and with SAIC Motor, China Life Insurance and Dongfeng Motor falling by over 2%. (They declined by 2.54%, 2.52% and 2.23% respectively). The two automakers likely fell on news of increased US imports, despite their own impressive sales figures: despite the government’s efforts, and for all the joint ventures and technology transfers, China still has not produced a competitive, aspirational auto manufacturer. (See GE Anderson’s book Designated Drivers for more info).
The only gains were posted by Sinopec (up 0.23% to RMB4.4 a share) and China Railway Construction (up 0.71% to RMB4.24 a share). Both are near their 52-week low (around 10% of it in both cases), so this is hardly break-out-the-champagne news.
The Shanghai Composite Index closed at 2,027.62, down 16.72 (-0.82%). With SOEs “advised” to take part in stock buy-back operations, I would not bet that it would fall below the 2000 level; and yet, on this form, who could be sure?
|Name||Price||Change||Mkt cap||52wk high||52wk low||EPS||P/E|
|China Construction Bank||3.96||-0.02 (-0.50%)||990,043.48M||5.19||3.8||CN¥0.85||4.68|
|Agricultural Bank||2.42||0.00 (0.00%)||786,001.79M||3.28||2.38||CN¥0.50||4.82|
|Bank of China||2.5||-0.01 (-0.40%)||698,411.38M||3.26||2.48||CN¥0.53||4.71|
|China Mobile||77.35*||-1.10 (-1.40%)||1.55B||91.1||74.9||HK$8.20||9.43|
|Noble Group||1.03||0.00 (-0.48%)||6,859.03M||1.27||0.785||SGD0.04||28.54|
|China State Construction||3.01||0.00 (0.00%)||90,300.00M||4.18||2.9||CN¥0.62||4.89|
|China Railway Construction||4.24||+0.03 (0.71%)||52,311.17M||6.46||3.95||CN¥0.84||5.04|
|China Railway Group||2.43||-0.01 (-0.41%)||51,758.76M||3.41||2.3||CN¥0.44||5.54|
|SAIC Motor||13.06||-0.34 (-2.54%)||143,993.90M||19||11.83||CN¥2.05||6.37|
|China Life Insurance||14.32||-0.37 (-2.52%)||404,750.57M||22||12.88||CN¥0.97||14.81|
|Dongfeng Motor||11.42*||-0.26 (-2.23%)||98,396.09M||13.28||9.48||HK$1.38||8.29|
|China Shenhua||14.45||-0.11 (-0.76%)||287,405.01M||25.39||14.4||CN¥2.25||6.42|
|Ping An Insurance||39.94||-0.69 (-1.70%)||316,170.70M||53.27||31.69||CN¥3.45||11.58|
|China Telecom||3.65*||-0.07 (-1.88%)||295,403.15M||4.42||3.48||HK$0.26||14.12|
|China Communications Construction||3.84||-0.03 (-0.78%)||62,110.98M||5.79||3.8||CN¥0.81||4.74|
|Bank of Communications||3.78||-0.02 (-0.53%)||280,713.10M||5.68||3.65||CN¥0.84||4.49|