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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (1005)	4/6/2001 12:06:42 AM
From: ms.smartest.person	Read Replies (1) of 2248

Singapore shares outlook: Flat to lower on earnings concerns; techs to fall 2001-04-06 Terms and Conditions Share prices are expected to open flat to lower amid prevailing earnings concerns and following Wall Street's mixed close overnight, dealers said. Technology stocks likely to continue their weakness following overnight falls on NASDAQ, dealers said. Yesterday, the Straits Times index closed down 22.12 points at 1,621.99. Volume was 274.313 mln shares worth 379.087 mln sgd. Losers led gainers 200 to 73, with 297 stocks unchanged. The DBS 50 index was down 6.28 points at 547.12, while UOB SESDAQ was down 1.17 points at 58.33. A research head with local brokerage said she expects the market to remain under selling pressure even though it is already trading at attractive levels. "Concerns over corporate earnings in the first quarter will continue to drag the market lower," she said. However, the index may attempt to hold at the psychological support of 1, 600 points. Among big cap stocks, at least three technology companies including Chartere d Semiconductor, ST Assembly and Creative Technology are expected to report losses in the first quarter, dealers said. Singapore Press Holdings along with another MobileOne shareholder -- Keppel T&T - will be in focus today after MobileOne shareholders said overnight that they may jointly divest their shareholding in MobileOne. Other MobileOne shareholders include Cable & Wireless Plc and Pacific Century Cyberworks. But local brokerage research head said there may not be as much positive reaction to SPH after announcing plans to divest their MobileOne shareholding as SPH considers MobileOne as no longer a strategic investment. jb/rf For more information and to contact AFX: www.afxnews.com and www.afxpress.com Terms and Conditions Copyright© 2000 LEXIS-NEXIS, a division of Reed Elsevier Inc. All rights Reserved. quamnet.com

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