Yanzhou Coal purchased

This afternoon I added a few more shares in Yanzhou Coal (HK:1171) to the portfolio. The stock has been hammered by a combination of the general sell off in equities over the last few months, the fall in coal prices and concerns over the effects of fluctuations in the AUD on its investment in Australia. Whiel I expect that the trailing dividend will be cut, I am still expecting a yield of around 4.5-5.0 percent on current prices (and, yes, there is a substantial element of guess work involved).

I paid HK$11.80 for the additional shares.