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.