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Technology Stocks : China.com Corp-(CHINA)
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To: T A P who wrote (438)5/24/2000 9:40:00 PM
From: $Mogul  Read Replies (1) of 504
 
UPDATE 1-After the Bell - China, wireless shares up
NEW YORK, May 24 (Reuters) - Shares of Chinese companies trading in U.S. markets jumped in after-hours trading on Wednesday after the U.S. House of Representatives voted in favor of permanent trade benefits for China.

Internet firm Chinadotcom Corp. (NASDAQ: CHINA) climbed to 31-1/4 after the bell on Island ECN compared with a closing price of 27 on Nasdaq. The stock rose 11/16 during the regular session.

AsiaInfo Holdings Inc. (NASDAQ: ASIA), an information technology services provider, also moved up to trade at 39 in after-hours activity versus a closing price of 35-1/8. AsiaInfo shares lost 7-1/2 during the day.

U.S. firms involved in wireless communications and technology also climbed in after-hours activity as investors noted that they too may gain from normal trade relations with China.

Qualcomm Inc. (NASDAQ: QCOM) traded at 83-7/16 on Island ECN compared with a closing price of 76-3/4 on Nasdaq.

Late this afternoon, the House approved a bitterly contested China trade bill, handing President Bill Clinton and Republican leaders an historic victory in a battle pitting business against labor.

The legislation to grant permanent normal trade relations with China and set up a commission to monitor its human rights record passed by a vote of 237 to 197 in the House.

The bill now moves to the Senate, where passage is virtually assured by mid-June.
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