iShares RMB Bond Fund - R purchased

This week I scooped up my small balance of RMB and purchased a few more units in the iShares RMB Bond Fund - R. I view this as a lower risk substitute for direct investment in RMB denominated bonds (as well as offering better returns than the deposit rates which HSBC is offering).

I paid RMB34.65 for the additional units.

CCB purchased

This afternoon I added some shares in CCB (HK:939) to the portfolio. I have held CCB for a few years and, while the dividends have been good, the shares have been sold off heavily on concerns over exposure to local governments, investment products and real estate developers.

My guess is that, as ugly as the banking sector is likely to get in China, most of that must surely be in the share price by now?

I paid HK$5.02 for the additional shares.

As an aside, I tried to buy some additional shares in Sinolink Holdings (HK:1168) at HK$0.62 earlier this week but missed out. I will keep watching.

Sinotrans Shipping sold

Following a disappoint earnings result, I have sold off all my shares in Sinotrans Shipping (HK:368) at prices ranging from $2.37 to $2.26. It was a decision reached with some hesitation as (i) the company continues to have a very strong balance sheet and (ii) the Baltic Dry Index has been edging up recently as the US and Europe continue their recovery. There was also a broker report released post-results which rated the company a sell with a price target of $1.85. In any event, I decided that my money was better invested elsewhere.

This was one of my larger investments and I made a net profit of 39%.