CHINA TELECOM Drifts 3% Higher to Log Over-3-Yr High, Being JPM Top Pick for Greater China
$CHINA TELECOM(00728.HK$ shot up about 3% to last at $3.47, logging an over-three-year high. $CHINA MOBILE(00941.HK$ rallied 1.55% to $55.6. $CHINA UNICOM(00762.HK$ jumped 1.9% to $5.37.
$JPMorgan(JPM.US$ had earlier issued a report, staying bullish on Chinese telecoms this year. It forecast the operators to benefit from continuous revaluation and cloud market share expansion. The broker listed $HKBN(01310.HK$ and CHINA TELECOM as the top picks among Greater China telecoms.
![CHINA TELECOM Drifts 3% Higher to Log Over-3-Yr High, Being JPM Top Pick for Greater China](https://ussnsimg.moomoo.com/feed_image/103055095/f3206f3e062737be9c9d65d8faac1e29.png/bigmoo)
The broker rated CHINA MOBILE, CHINA TELECOM and CHINA UNICOM at Overweight, Overweight and Neutral, with respective TP hiked to $70, $4.5 and $5.8.
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