Asia's Phone Companies with Attractive Valuations

From International Herald Tribune: Around Asia's markets: Rebound is forecast for phone companies

"Telephone companies like Indosat have become Asia's cheapest stocks relative to earnings after trailing a benchmark regional index for the past seven quarters. Some investors expect the shares to rebound. "They will outperform for a while," said Ambrose Chang, chief investment officer at Daiwa SB Investments HK in Hong Kong. "Valuations are attractive."
Chang favors shares of China Telecom, the nation's biggest fixed-line carrier"

"Telephone stocks are valued at an average of 14.3 times earnings during the past 12 months, a Morgan Stanley Capital International index of 26 companies in the region shows. This ratio is the lowest of the 10 industry groups in the Asia-Pacific index by Morgan Stanley."

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