April 8, 2010 (Chinavestor) - U.S.-based financial holding company JPMorgan Chase & Co has decreased its shareholding in China Telecom Co. Ltd. (HKG:0728) (NYSE:CHA) to 5.94% from 6.01% on April 1, according to the bourse operator Hong Kong Exchanges and Clearing (HKEx) (HKG:0388).
Last month, shares of China Telecom (NYSE:CHA) outperformed larger China Mobile (NYSE:CHL) and China Unicom (NYSE:CHU). China Telecom (NYSE:CHA) reported the fastest mobile growth year-over-year in percentage terms and is expected to carve out a significant portion of the 3G smart phone pie as well. China telecom industry in 2009.
H-shares of China Telecom soared over 10% in March and a small profit taking in early April makes perfect sense.