Cents and Sensibility - Kimberly and Friends' Consortium Message Board

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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium

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To: Kimberly Lee who wrote ()	4/3/2000 12:54:00 AM
From: Mike E.	Read Replies (1) of 108040

(REUTERS) HK stocks end morning lower on Microsoft concerns HK stocks end morning lower on Microsoft concerns HONG KONG, April 3 (Reuters) - Hong Kong stocks fell sharply on Monday morning as investors took flight from high-tech stocks on expectations that Microsoft Corp <MSFT.O> could drag key U.S. indexes lower. The benchmark Hang Seng Index <.HSI> rose to 17,458.06 shortly after the open but ended Monday morning down 1.78 percent or 309.35 points at 17,097.19 as investors piled out of local technology and telecoms stocks. "People are expecting Microsoft to fall more than 10 percent and because Microsoft is an index stock in the Dow and the Nasdaq, they're expecting a drop down in the U.S. market tonight," said Ricky Tam, senior research analyst of Delta Asia Securities. Analysts in the United States said Microsoft shares could fall by about 10 percent when U.S. markets open on Monday after mediation talks in its landmark antitrust case collapsed. The judge mediating the Microsoft case announced on Saturday that settlement efforts had failed. MORE * end of story *

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