China Mobile Becomes Nation’s Third-Largest Stock on 6G, AI Bets
- Stock’s recent rally boosts its market cap ranking on mainland
- Telecom shares hit muti-year highs earlier on sector optimism
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China Mobile Ltd. has become the third-largest stock listed onshore by market valuation, thanks to a recent trading frenzy driven by artificial intelligence bets and the government’s 6G ambitions.
A 27% rally this year in the state-owned telecom service provider has pushed its market cap to around 1.22 trillion yuan ($176 billion), beating China Construction Bank Corp.’s 1.15 trillion yuan. Its value is still around half that of market leader Kweichow Moutai Co., and 20% below runner-up Industrial and Commercial Bank of China Ltd.