China Telecom reflects market sentiment. A lot of foreign brokerages have issued pessimistic outlooks on the Hong Kong market in the near term and that is putting pressure on the market.
More Quotes from Herbert Lau:
Momentum in the two China telecom stocks is slowing because all the good news is in the price now, ... In the near term they will follow the trend in the telecom sector, where there is still some weakness.Herbert Lau
We're seeing across the board buying after tame employment data out of the U.S., which is reducing pressure for interest rate hikes, and a good response to residential property sales over the weekend.
Herbert Lau
China Telecom is also being hurt by the agreement between the European Union and China on WTO, ... Under the agreement China has given further concessions on the telecom sector that will allow foreign players to come in and that will hurt the longer-term prospects of China Telecom.
Herbert Lau
CW is not desperate to raise funds so I don't think they will want to unload PCCW at such a depressed price,
Herbert Lau
Shares are not doing too well across the board this morning,
Herbert Lau
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