SGX market update: We have nine China SOE stocks
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THE Singapore market contains nine stocks that are wholly or partially-owned by state-owned enterprises (SOEs) in China, the Singapore Exchange (SGX) told investors in a market update on Tuesday.
These stocks span sectors like pharmaceuticals, water purification, shipping, property, commodities and industrials.
They have a total market value of S$8 billion and are trading on average at 1.2 times their book value, SGX said.
The market update comes as a landmark stock trading link between the Shanghai and Hong Kong markets kicked off on Monday, allowing retail investors around the world to get a piece of China stocks.
However, the stocks have not performed well this year, and are down by 18 per cent on average. Month-to-date, they are up 1.8 per cent on average.
The nine stocks are Tianjin Zhongxin Pharmaceutical Group Corporation, SIIC Environment Holdings, Cosco Corporation (Singapore), China Merchants Holdings (Pacific), Ying Li International Real Estate, China Aviation Oil (Singapore) Corporation, GMG Global, Pteris Global and AVIC International Maritime.
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The link to the market update can be found here.
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