According to the Zhītōng Cáijīng APP, telecom stocks rebounded in early trading, as of press time, China Unicom (00762) rose 2.82%, to HKD 7.28; China Telecom (00728) rose 2.8%, to HKD 4.78; China Mobile (00941) rose 1.53%, to HKD 76.15.

On the news front, a J.P. Morgan research report stated that it is maintaining its 'shareholding' rating for the three major telecommunications stocks in mainland China. The firm is bullish on China Mobile with a yield of 7% and an average annual compound growth rate of 7% in dividends; it has a high defense in volatile markets; and compared to China Telecom and Unicom, China Mobile's stock price has room to catch up. The firm also expects the second quarter revenue of mainland telecom stocks to be weak but profitable.

Goldman Sachs previously stated that it has a positive outlook for the second half of the year on the three major Chinese telecommunications stocks. It believes that these stocks meet the long-term value assessment model based on the dividend discount rate, stable business and profit growth portfolio, the ability to achieve dividend targets based on free cash flow from 2021 to 2026, and the company's willingness to drive shareholder returns and management market capitalization based on performance indicators for state-owned enterprises.