ZSUN, October 12th, Launches Hong Kong Stock Trading System:
SOLANA BEACH, CA - October 12, 1999: ZiaSun Technologies Inc (OTC BB: ZSUN.OB) (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 (NASDAQ: RTRSY).
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 formely 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).
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the matters discussed in this news release that may be considered forward-looking statements could be subject to certain risks and uncertainties that could cause the actual results to differ materially from those projected. These include uncertainties in the market, competition, legal, success of marketing efforts and other risks detailed from time to time in the company's SEC reports. The company assumes no obligation to update the information in this release.
CONTACTS:
Mark Harris, VP Investor Relations
462 Stevens Avenue, Suite 106
Solana Beach, CA 92075, USA
Tel: 858 350 4060
E-mail: mark@pinmail.com
Website: www.ziasun.com
Geoff Eiten
OTC Financial Network
800-230-3519 / 781-444-6100 ext. 13
geiten@otcfn.com
www.otcfn.com/zsun
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