Wednesday, December 14, 2011

Sinopec purchased

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.

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