ZIASUN LAUNCHES HONG KONG STOCK TRADING SYSTEM...
SOLANA BEACH, Calif., Oct 12, 1999 /PRNewswire via COMTEX/ -- ZiaSun
Technologies Inc. (OTC Bulletin Board: ZSUN) (www.ziasun.com) today
announced the launch of SwiftradeHK (www.swiftradehk.com), making
on-line access to the Hong Kong stock market significantly easier for
investors around the world.
Trading on the Hong Kong market is made available through SwiftradeHK
by United Mok Ying Kie Ltd (UMYK), one of Hong Kong's oldest and most
respected brokers.
UMYK is a member firm of The Stock Exchange of Hong Kong (SEHK) and is
registered as a dealer under the Securities Ordinance with the
Securities and Futures Commission (SFC). UMYK is also a corporate
member of the Hong Kong Securities Institute.
The new service provides clients with on-line technology for easy,
efficient and inexpensive access to the SEHK. It ensures swift
execution and rapid confirmation of trades, along with accurate and
updated balances and positions. Users have access to real-time SEHK
stock prices, to enable them to check prices instantly and have their
portfolios updated automatically and in real-time. Real-time financial
news and data are provided by Reuters.
UMYK's Managing Director, Mr. Richard Witts, said the brokerage is
extremely pleased to be providing this timely service, which is
available to investors, both local and overseas, who wish to
participate in this key market.
Mr. Witts, a long-term figure in the Hong Kong stockbroking industry
and former secretary and general manager of the Hong Kong Stock
Exchange, pointed out that the service represents a major step forward
for UMYK and the industry as a whole.
"On-line trading is undoubtedly the way forward. In a recent joint
report entitled 'Internet Investment Services -- Conclusions and
Recommendations for Hong Kong', the SAR's most respected financial
institutions, including The SEHK, SFC, Hong Kong Futures and The Better
Hong Kong Foundation, concluded that there will be a significant shift
among local retail investors towards on-line services. An estimated
20-30 per cent of investors will be trading on-line by 2010, accounting
for 30-40 per cent of total retail trading volume."
"The Internet is creating a more competitive environment in many
traditional areas of business. It is essential to seize the initiative
where on-line trading is concerned, not only for the future success of
individual brokers, but also to ensure that Hong Kong retains its
status as one of the world's leading markets. The move will enable UMYK
to expand its client base while remaining highly competitive," Mr.
Witts concluded.
UMYK was formed in 1991 as a stockbroking joint venture between United
Overseas Bank Ltd (UOB), one of the largest and most well-known banks
in Singapore, and Mr. Mok Ying Kie. Mr. Mok, Chairman of UMYK, is a
well-known figure within the industry. A veteran of the Hong Kong
trading scene, Mr. Mok formerly served as Chairman of the Hong Kong
Stock Exchange, one of the stock exchanges replaced by the unified
Stock Exchange of Hong Kong in 1986. He has carved out a substantial
niche in the brokerage business over the decades.
In addition to Swiftrade, ZiaSun's Internet products and services
include 'M Finance' (www.mfinance.com), MediaHits (www.mediahits.com),
PINmail (www.pinmail.com), Search Dragon (www.searchdragon.com),
ServiceLive (www.servicelive.com), Asia4Sale (www.asia4sale.com) and
Online Investors Advantage (www.i-advantage.com).
Note: Any statements released by ZiaSun Technologies Inc that are
forward-looking are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Editors and investors
are cautioned that forward-looking statements invoke risk and
uncertainties that may affect the company's business prospects and
performance. These include economic, competitive, governmental,
technological and other factors discussed in the statements.
CONTACTS:
Mark Harris, VP of Investor Relations
ZiaSun Technologies Inc.
858-350-4060
mark@PINmail.com
www.ziasun.com
Geoff Eiten
OTC Financial Network
800-230-3519 / 781-444-6100 ext. 13
geiten@otcfn.com
www.otcfn.com/zsun
SOURCE ZiaSun Technologies Inc.
(C) 1999 PR Newswire. All rights reserved.
prnewswire.com
-0-
CONTACT: Mark Harris, VP of Investor Relations of
ZiaSun Technologies Inc., 858-350-4060, or mark@PINmail.com;
or Geoff Eiten of
OTC Financial Network, 800-230-3519, or 781-444-6100, ext. 13,
or
geiten@otcfn.com
WEB PAGE: swiftradehk.com
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