2. China Life (2628/LFC) HK$41.1=> HK$43.34 BUY => STRONG BUY
3. China Construction Bank (0939) HK$8.97 BUY
4. Total SA (TOT) US$61.64 BUY
5. Siu On Land (0272) HK$7.4=>HK$6.73 STRONG BUY
- China Life Share price fall mainly due to China stock market, however, premium up 19% in 2010, market shares kept at around 40%, new business value remain highly profitable, interest rate trend is favorable to China Life.
- There are potential 1-2% interest rate rise in China next year, therefore, I’ve readjusted China Life & Shiu On Land’s NPV to reflect such impact.
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