BIZCHINA / News |
Eight Chinese companies included in world's best stock picks(Xinhua)Updated: 2007-01-18 15:59 Standard and Poor's has included eight China's companies in its S&P Global Picks 2007, a list of 30 companies that are expected to offer the best performing stocks in the world this year. The companies include five based in the Chinese mainland: China Construction Bank, China Mengniu Dairy, China Oilfield Services, China Southern Airlines, and Datang International Power. Lorraine Tan, vice president of Equity Research of Standard & Poor's in Asia, said the eight Chinese companies were chosen for their potential for growth. China Mengniu will benefit from China's rising use of dairy products, and China Oilfield Services will achieve sustained growth because of increased exploration and production, said Tan. China Construction Bank will continue to enjoy a robust growth in the financial sector, China Southern Airlines will take advantage of the appreciation China's currency yuan, and Datang International's should grow as the demand for power is on the rise. As to the two companies based in Hong Kong, Henderson Land Development will gain from the upturn in property demand in the medium term, while Hutchison Telecommunications should experience a high growth rate following its expansion in India, according to the Standard & Poor's. AU Optronics based in Taiwan is well positioned to benefit from a diversified electronic product mix, Tan said. The 30 companies on the S&P Global Picks 2007 are expected to exceed
returns of companies on the S&P Global 1200 index. In 2006 the S&P
Global Picks portfolio generated a return of 30.8 percent while those on the
S&P 1200 Index averaged a return of 21.5 percent. (For more biz stories, please visit Industry Updates)
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