China Mobile (CHA +1.8%) trades higher on an upgrade to Outperform from Credit Suisse, which...

China Mobile (CHA +1.8%) trades higher on an upgrade to Outperform from Credit Suisse, which sees strong 3G uptake in "Tier 2" Chinese cities leading to double-digit revenue growth for the country's carriers. CS notes 2/3 of China's net adds since April '11 have involved 3G, leading its penetration rate to grow to 15.6% of phones, and that 3G subs tend to sport higher ARPUs. Outperforms are reiterated for China Mobile (CHL) and China Unicom (CHU - previous).

Comments (1)
  • masterpanda
    , contributor
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    I used to have China Mobile--the actual H shares in Hong Kong--and had to wait too long to break even (it sank of course after I had bought it). I thought I understood that CHU--the NYSE ADR for China Unicom--had some advantages in the market, and bought that. What a mistake. It is obvious that some manipulative traders pump and then dump the ADR in New York--over and over. I am down a few thousand and may bag it as there seems no way to break this cycle. I have had it with all my Chinese stocks--and I did not buy junk or the banks or the gamey IT companies. This is not for me.
    22 May 2012, 04:51 PM Reply Like
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