Nov. 19, 2009 (Chinavestor) - U.S.-based financial holding company JPMorgan Chase & Co has raised its shareholding in Yanzhou Coal Mining Co. Ltd (NYSE:YZC) (HKG:1171) to 6.06% from 5.60% on November 17, according to the bourse operator Hong Kong Exchanges and Clearing (HKEx) (HKG:0388).
HKEx said in a statement that JPMorgan Chase has acquired 9.088 million H-shares in Yanzhou Coal (NYSE:YZC) for HK$134.048 million. The average price of the share transaction was HK$14.75 apiece.
Chinavestor sent a SELL email alert to subscribers on November 18 as follows:
Chinavestor Subscriber,
- Yanzhou Coal (NYSE:YZC) advanced $.66 to 3.40% on Tuesday, is up 12% in the last five days and became overbought. Yanzhou Coal (NYSE:YZC) advanced 31.1% in November, an excellent return. While there may be additional upside for the stock, I suggest you taking profits off the table. Wish you successful investing.
H-shares of Yanzhou Coal (HKG:1171) soared 15.2% in the November 13 - 19 period to end at HK$15.22 on Thursday.
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