This time last year, DBS Securities had a buy recommendation on China Telecom

THIS time last year, DBS Securities (HK) had a buy recommendation on China Telecom (HK), saying the cell phone operator had some of the best fundamentals among China plays, and its parent, the Ministry of Posts and Telecommunications, would remain a big force in the mainland telecoms market.

This proved solid advice as the share has risen 5 per cent over the past year. It has so far avoided the worst of the selling pressure afflicting Hongkong Telecom.