HK Stocks Lower; CyberWorks Tumbles 3.4% (Update1)
Sep 11,2000 - 10:53:05 HKT
quamnet.com
Hong Kong stocks were lower in early trading, led by Pacific Century CyberWorks and other telecoms plays.
At 10:24 a.m. Hong Kong time, the benchmark Hang Seng Index was down 184.20 points, or 1.07 percent, to 17,091.25. The Growth Enterprise Market Index, which tracks the performance of technology and related
companies on Hong Kong's second board, was down 2.64 points, or 0.57 percent, to 457.04.
Pacific Century CyberWorks Ltd. (0008), Asia's largest Internet investment company by market value, tumbled 3.4 percent to HK$12.75,its lowest point since it slipped to HK$12.50 on April 27.
China Mobile (H.K.) Ltd. (0941), the listed arm of the nation's biggest mobile phone operator, lost 2.9 percent to HK$59.50.
Cheung Kong, the city's largest property developer, was down 1.2 percent to HK$99.75. Its 49.9 percent owned Hutchison Whampoa Ltd. (0013), Hong Kong's largest conglomerate, was down 1.3 percent to HK$112.50.
New World Development (0017), the city's No. 4 developer, slipped 2.3 percent to HK$13.
HSBC Holdings (0005), Europe's biggest bank, fell 0.4 percent to HK$113. Its subsidiary Hang Seng Bank, the city's second largest publicly traded bank, was down 1.1 percent to HK$86.75. |
