Salomon Smith Barney introduces Asian Internet Index <We are in the Index!>
Salomon Smith Barney introduced Asian Internet Index which consisted of thirty-six stocks chosen from pure internet companies that span all of Asia excluding Japan, Australia and New Zealand. Of which Hong Kong-listed companies represent a half of the constituents, including stocks on main board such as Pacific Cent Cyber <1186.HK>, i-Cable Comm <1097.HK>, Softbank Inv Int'l <0648.HK>, Golden Power <0603.HK>, e-Kong Group <0524.HK>, Sino-i.com <0250.HK>, e-New Media <0128.HK>, ICG <0715.HK> and Netalone.com <0336.HK>. Companies on Grow Enterprise Market has been selected including Tom.com <8001.HK>, Sunevision Hold <8008.HK>, Hongkong.com <8006.HK>, iSteelAsia.com <8080.HK>, Digitalhonkong.com <8007.HK>, AIR Holdings <8025.HK>, iMerchants <8009.HK>, G China Tech <8032.HK>, techpacific.com <8088.HK>, etc.
Salomon Smith Barney said that the companies chosen were engaging in internet business or traditional companies that have transformed themselves into internet businesses.
In addition, Salomon Smith Barney stated that the internet sector in Asia (excluding Japan, Australia and New Zealand) is now worth US$39 billion. The deflation of the Asian internet 'bubble' is not bad news, however investors should select investment companies having commercial strategy and large scale target market.
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