Considering NN has a contract with Guangdong, the following article might be of interest.
Today's action didn't seem alarming in the least. What stock goes up every day? I've never climbed a mountain that didn't have switch-backs. And, frankly, I'd rather have NN's steady progress than Ciena's heaven to hell in one month scenario.
Later --
Pat
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CHINA'S TELECOM Market Picks up amid ASIA'S Weak
Economy
Xinhua
12-SEP-98
BEIJING (Sept. 13) XINHUA - China's telecommunications market is likely to remain immune to Asia's financial turmoil and keep fast growth this year, thanks to increased infrastructure spending, vibrant domestic demand and limited dependence on Asian economy, reported today's China Daily.
The Ministry of Finance announced a bond issue worth 100 billion yuan earlier this month to fund infrastructure construction. It did not specified how much of the capital will go to telecommunications but said total investment for the sector will more than double the figure set earlier this year.
The Ministry of Information Industry (MII) said that even the previous
investment projection represented a rise of 20 percent over last year.
Much of the funds would go to construction and expansion of trunk line optical cable, mobile communications and local telephone networks, said MII.
In addition to the huge investment, the domestic demand for telecom, unlike other markets in China, enjoys robust growth.
China Telecom, the country's dominant telecom operator, set a goal to raise the number of cellular phone users by 7 million this year to 20 million. The company accounts for 98 percent of the country's cellular market.
Foreign players also benefit from China's sound telecom performance. Zhang Ken, director of Ericsson (China)'s wireless technology department, said that in 1997 China was Ericsson's second largest market after the United States |
