Stocks with a solid balance sheet, proven business models, and steady cash flows are counted in the Bluechip stocks. Although there is no particular definition for Bluechip stocks, these companies mainly account for the nation’s economic growth. Large market cap, commanding position in the industry, and household name make Bluechip stocks powerful giants.
Here are some top Bluechip stocks contributing to Hong Kong’s economy in 2023.
China Mobile Ltd (HKG:941)
China Mobile Ltd is one of the strong players in the list of top Bluechip stocks in Hong Kong. Introduced in 1997, the company is heavily engaged in telecommunication and related services in Mainland China. With a workforce of 450.698K, the company has emerged as a super giant in China’s market. The company stock price at present is HKD 67.10, a hike of 1.51% with a market cap of HKD 1.449 Trillion. The stock is a strong buy as per the professional’s ratings.
Industrial and Commercial Bank of China (HKG:1398)
Another top Bluechip stock in Hong Kong’s market is the Industrial and Commercial Bank of China, founded in 2011. With a workforce of 427.587K, the firm is generating an annual revenue of HKD 1.734 Trillion by offering financial and commercial banking services. Focusing on the current performance, the company’s stock price is HKD 3.60, an upsurge of 0.84% with a market cap of HKD1.642 Trillion, making it a strong buy as the professional’s ratings.
Trip Com Group Ltd (HKG:9961)
Trip Com Group Ltd, a travel service provider also created its position in the list of top Bluechip stocks in Hong Kong. Founded in 1999, the company employs a 32.202K workforce to generate an annual revenue of HKD 23.303 Billion. The stock is a strong buy, based on the current performance. The company’s stock price is HKD 309.4, a hike of 0.85% in the past 24 hours with a market cap of HKD 198.213 Billion.
China Resources Mixc Lifestyle (HKG:1209)
Another stock to look at in 2023 is China Resources Mixc Lifestyle, a super giant in the finance sector. The company was founded in 2017 and employs around 40.239K employees helping the firm in generating an annual revenue of HKD 14.031 Billion. With a stock price of HKD 33.85 and a market cap of HKD 77.263 Billion, the stock is a strong buy, as per an aggregate view of professional ratings.
CK Hutchison Holdings Limited (HKG:1)
Another Bluechip stock leading Hong Kong’s stock market is CK Hutchison Holdings Ltd., founded in 1828. The company is heavily engaged in the development, investment, operation, and innovation in different business industries with a 300K workforce. With a stock price of HKD 42.75 and a market cap of HKD 163.734 Billion, the stock is a buy as per the professional’s ratings. The annual revenue of CK Hutchison Holdings Limited is HKD 262.497 Billion.
Conclusion
Some of the Bluechip stocks that skyrocketed in Hong Kong’s financials in 2023 are CK Hutchison Holdings Limited, Industrial and Commercial Bank of China, China Resources Mixc Lifestyle, Trip Com Group Ltd, and China Mobile Ltd.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/09/03/top-5-bluechip-stocks-to-skyrocket-hong-kong-financials-in-2023/