A little flagrant boosterism to help goose the stock. Wow, 15 point swings in 6 trading days on no news.
<<DJ Goldman Sachs: Asia E-commerce To Hit US$32b In 2003
SINGAPORE (Dow Jones)--Revenues from electronic-commerce in Asia is expected to hit $32 billion by 2003, up from an estimated $700 million in 1998, Goldman Sachs Investment said Wednesday in report on Internet evolution in Asia.
The investment bank also said online advertising in Asia could reach $1.5 billion by 2001.
The biggest gains in e-commerce revenues are expected to be made in Australia, South Korea, China and India, the bank said. E-commerce is essentially conducting business over the Internet.
In Asia, business-to-business transactions have the highest e-commerce potential, the report said.
Internet-service providers will have the best revenue potential over the next year as connectivity is the rage, it said.
Asia has one of the largest and most untapped Internet markets with 15 million Internet users, the report said. That number is expected to grow by 40% annually during the next five years to 64 million by 2003.
An influx of new Internet initial public offerings will be offered over the next year, and pure plays, such as Australia's eCorp (A.ECP) and LibertyOne (A.LIB) and Singapore's Pacific Internet Ltd. (PCNTF) are preferred, the report said.
The bank also recommended investing in companies such as Wharf Holdings (H.WHF) and Singapore Press Holdings (P.SPH), which have Internet-related assets. That acts as a catalyst for good share price performance in telecommunications stock investments, the report said.>>
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