Wednesday, June 20, 2012

Buy The Countdown, Sell The Launch: China's Aerospace Stocks Mixed After Milestone

Shares in Chinese suppliers to the country?s space program were mixed yesterday after enjoying a run-up ahead of the liftoff and historic docking success of the country?s Shenzhou IX spacecraft and its three-member crew.

Shares in Shaanxi Aerospace Power Hi-Tech dropped by 2.2% to 12.94 yuan, after climbing 16% between June 6 and June 11 ?ahead of?Saturday?s launch.??Guizhou Space Appliance edged up by 0.4% yesterday after rising 12.9% before the launch, and satellite maker China Spacesat declined 1.6% yesterday after a pre-launch run-up.??

All three are trading at price-earnings ratios that are less than down-to-earth: Shaanxi Aerospace is at 56, ?Guizhou Space 32 and China Spacesat 51, according to Bloomberg figures.

This week?s mission is also notable for the participation of China?s first woman in space, Liu Yang.

? With Maggie Chen

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