1. I hold 250,000 shares of ICBC (1398.HK) at $4.41. The current price is $4.26. I am seeing a small loss of 3%.

2. The stock has a PE ratio of 3.79 and a forward PE ratio of 3.45. This implies that the profit will increase by 10% for the current financial year. The forward dividend yield is 8.06%.

3. This is the largest bank in China. The stock price was depressed during the past year as investors were worried about the loan exposure to the property market which was in a slump for the past two years. 

4. Recently, the property market is recovering. The stock price of the biggest developer, Country Garden, has recovered from a low of $1 to the current price of $3.25.  I expect that the banks (i.e. ICBC) will also recover.

5, The PE ratio of 3.79 for ICBC is 3.6 times lower than DBS Singapore (13.94). 

5. I bought another 100,000 shares at $4.25. Now I hold $350,000 shares.

Note - I am giving my personal view. This is not investment advice. 

Tan Kin Lian