Time to take profits on China coal names, J.P. Morgan says


China's coal sector has rallied since the end of July - with Yanzhou Coal (YZC) +27%, China Coal (CCOZF.PK) +24% and Shenhua (CUAEF.PK) +14% - but J.P. Morgan says it's time to take profits.

The recent bounce in commodity and material names is mainly due to overselling and is only a technical bounce, the firm says; fundamentally, it is still bearish on thermal coals as market prices continue to fall and channel checks suggest coal traders and producers retain a negative outlook.

Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs