China Telecoms Ring Up Gains on BNP Paribas Upgrade


All three Chinese Telecoms rose in Hong Kong after BNP Paribas rated China Telecom, HK 728 AND China Mobile, HK 941 as buys.  China Unicom, HK 762 rose in empathy but this struggling competitor warranted only a cautious hold.  China Telecom was seen as the top pick thanks to its integrated strategy.  China Mobile, the monster in terms of size and customers, got a buy due to market leadership and cross-selling opportunities between broadband and mobile. All three outperformed the Hang Seng on a daily basis with China Telecom and China Mobile beating it on a year to date basis.

Last quarter comparisons illustrates the poor performance of China Unicom and the numbers as 4G continues to roll-out.

telecom q1

telecoms mobile cust



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