Inner Mongolia Yitai Coal Company Ltd. (3948) Jumped 2.99% on Oct 15

October 15, 2017 - By Adrian Mccoy

Shares of Inner Mongolia Yitai Coal Company Ltd. (HKG:3948) last traded at 9.63, representing a move of 2.99%, or 0.28 per share, on volume of 79,400 shares. After opening the trading day at 9.24, shares of Inner Mongolia Yitai Coal Company Ltd. traded in a close range. Inner Mongolia Yitai Coal Company Ltd. currently has a total float of 326.01M shares and on average sees 219,063 shares exchange hands each day. The stock now has a 52-week low of 5.67 and high of 10.66.

SEHK: A Global Economy Giant

Hong Kong has one of the most successful economies in Asia, making it a powerful asset to the growth of the region. Consequently, Hong Kong is also an economic powerhouse in the world.

The Stock Exchange of Hong Kong (SEHK) is the third biggest stock exchange in Asia and the sixth biggest worldwide. It is a great opportunity for such companies as Inner Mongolia Yitai Coal Company Ltd. to find their client base there. That being said, it is significant in the fast-paced growth of Hong Kong’s economy.

History of the SEHK

The SEHK was formally founded in 1891 following the establishment of the Association of Stockbrokers in Hong Kong. Today, it is the third biggest stock exchange in Asia next to the Tokyo Stock Exchange (TSE) and the Shanghai Stock Exchange (SSE), respectively.

Pre-market session on the SEHK starts at 9:00 a.m. and ends at 9:30 a.m. Regular morning session begins at 9:30 a.m. and ends at 12:00 n.n. It is extended from 12:00 n.n. until 1:00 p.m. before the regular afternoon session begins at 1:00 p.m. and ends at 4:00 p.m.

The Hang Seng Index (HSI) is the benchmark index that weighs the top 50 stocks on the SEHK based on free-float market capitalization. This represents roughly 60% of the total market capitalization on the SEHK in four sectors: Energy, Financials, Materials, and Utility. These four sectors have been officially established in January 2, 1985.

The Hang Seng Indexes Company, a subsidiary of the Hang Seng Bank (HSB), operates the HSI. Rebalancing of the HSI happens every quarter. Its base date is July 31, 1964 and its base value is 100.

In order to be considered for the inclusion in the HSI, a company must belong to the top 90% of overall market capitalization of market shares and to the top 90% of overall turnover on the SEHK. It is also required that a company must have been listed for at least 24 months on the SEHK. However, a company can already be considered for inclusion after being listed for only three months depending on its market capitalization, liquidity, and overall performance and representation. Perfect liquidity of Inner Mongolia Yitai Coal Company Ltd. was the main condition of its acceptance.

By the Numbers

The HSI holds an all-time high of 31,638.22, which had been recorded on October 30, 2007; and an all-time low of 58.61, which had been recorded on August 31, 1967. It had first hit the 10,000 mark on December 10, 1993; and the 20,000 mark on December 28, 2006. On October 18, 2007, the HSI had first hit the 30,000 mark.

Eventually, as the 2008 Global Financial Crisis unfold, it had lost about 30% through March 9, 2008. Nearly a year after hitting its all-time high, the HSI had fallen to 15,431.73 on October 8, 2008.

According to CG Watch, a biannual newsletter that ranks Asian economies according to excellence in corporate governance, Hong Kong is one of Asia’s pride. This year, Hong Kong has scored 65 points, ranking second next to Singapore in the coveted list. This is mainly why more and more investors are flocking the SEHK as they anticipate to benefit from the growing national economy. Some investors are very interested in the companies like Inner Mongolia Yitai Coal Company Ltd..

More news for Inner Mongolia Yitai Coal Company Ltd. (HKG:3948) were recently published by: Livetradingnews.com, which released: “Inner Mongolia Yitai Coal Company (HKG:3948) Heffx Trading Outlook” on April 06, 2017. Reuters.com‘s article titled: “China reverses coal mining curbs as winter approaches” and published on November 17, 2016 is yet another important article.

Inner Mongolia Yitai Coal Company Limited is principally engaged in the production, transportation and sale of coal, as well as the distribution of petroleum products. The company has market cap of $37.86 billion. The Firm operates its business through three divisions. It has a 6.78 P/E ratio. Coal segment is mainly engaged in the mining and sale of coal products.