Asian Blue-Chip Stocks to Buy #1: China Mobile (CHL)
Click to Enlarge This behemoth is one of China’s best blue-chip stocks, but since the beginning of the year, China Mobile (CHL) has been hammered on fears of an economic slowdown, worries over the stability of the nation’s banking industry, and just a general distaste for all things China.
Yet the largest telecom company in the world also has come off the mat in remarkable fashion of late, vaulting some 11% since March 21. That big gain in CHL stock was in part due to notions of a stimulus coming from the Chinese government, and partly due to a long overdue oversold bounce.
Given that CHL stock still remains below its 50- and 200-day moving averages, I suspect there’s a lot more upside in this Chinese blue chip.