This morning I added a few more Sinopec (HK:386) to the portfolio. My expectation is that Sinopec will benefit from a general trend towards a more market driven regulatory environment in the PRC as well as a general increase in energy consumption. The yield is a decent if unexceptional 3.1% and the PE is well below 10x, making the stock a decent value play.
I paid HK$8.00 for the additional shares.
Sinopec is now my second largest individual holding.