SOURCE: Paragon Financial Limited

Paragon Financial Limited

November 28, 2012 08:20 ET

Chinese Equities Surge as Manufacturing in China Signals Growth for the First Time in 13 Months

The Paragon Report Provides Stock Research on China Mobile and

NEW YORK, NY--(Marketwire - Nov 28, 2012) - Chinese stocks received a boost last week as China's soft economy, which is set to grow at the slowest pace in over a decade, showed some much needed signs of improvement. The Bloomberg China-US 55 Index (CH55BN), which tracks the performance of the top 55 Chinese equities trading in the US, surged 2.3 percent last Friday. The Paragon Report examines investing opportunities in Chinese Equities and provides equity research on China Mobile Ltd. (NYSE: CHL) and International, Ltd. (NASDAQ: CTRP).

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A recent survey has shown that manufacturing in China, the world's second largest economy, expanded for the first time in 13 months. HSBC's Purchasing Managers' Index last week rose to 50.4 for November, any reading above 50 signals expansion. China's leaders have slashed interest rates twice since June and have announced $150 billion in infrastructure projects in attempts to boost its slowing economy.

"It shows that the policy easing has continued to support a growth recovery, and reinforces our view that growth will pick up strongly in the fourth quarter to 8.4% from 7.4% in the third quarter," said Nomura economist Zhiwei Zhang.

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As the leading mobile services provider in Mainland China, China Mobile boasts the world's largest mobile network and the world's largest mobile customer base. As of December 31, 2011, its total customer base was approximately 650 million. Shares of the company have gained over 15 percent year-to-date. International is a leading travel service provider of hotel accommodations, airline tickets, packaged tours and corporate travel management in China. The company reported revenues of $187 million for the third quarter of 2012, a 20 percent increase year-over-year. Shares of the company have rallied over 10 percent in the last week.

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