China's Stock Traders Are Snapping Up Everything 5G
- China Mobile sparks enthusiasm with fiber-optic cable order
- Investors may be getting too excited about 5G, Jefferies says
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Stock speculators are catching on to China’s 5G firms.
The latest trigger was China Mobile Ltd.’s huge order for fiber-optic cable, lifting shares of likely bidders in Hong Kong and onshore. The optimism spread wide across the telecom sector, boosting ZTE Corp. and Xiaomi Corp. which don’t even make cables. That followed news earlier in the week that China plans to expand the usage of e-payments in rural areas -- a policy that will require greater Internet coverage and more smartphones.