China Coal Energy Company Limited (China Coal Energy), a joint stock limited company,was exclusively initiated by China National Coal Group Corporation on August 22, 2006. China Coal Energy was successfully listed in Hong Kong on December 19, 2006 and finalized A Share issue in February 2008.More
Friday, Aug 1611:35 AMTime to take profits on China coal names, J.P. Morgan says
Friday, Aug 1611:35 AM| Comment!
- 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.