Saturday, May 16, 2009
Hutchison Whampoa purchased
I added Hutchison Whampoa to the portfolio on Friday paying HK$50.20 per shares. Although the projected 3.4% yield is sub optimal (actually, slightly below the expected yield of the Hang Seng Index as a whole), Hutchison is one of Hong Kong's blue chip stocks with a diversified portfolio of businesses some of which are likely to be relatively unaffected by a recession. From a trading perspective, the stock has lagged the recent rally and, I hope, will play catch up. As an aside, Goldman Sachs placed a buy recommendation on the stock with a price target of HK$61.