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Technology Stocks : Qiao Xing Universal Tele Inc. -- Ignore unavailable to you. Want to Upgrade?

To: gladman who wrote (73)	12/30/1999 1:15:00 AM
From: gladman	Read Replies (1) \| Respond to of 203

Are XING longs blind, deaf, dumb AND stupid. Please read the CBS Marketwatch article released after the close... >>Qiao Xing Universal share price gets cut in half By Myra P. Saefong, CBS MarketWatch Last Update: 5:19 PM ET Dec 29, 1999 Movers & Shakers NewsWatch GUANGDONG, China (CBS.MW) -- Shares of Qiao Xing sank 57 percent Wednesday after soaring 528 percent a day earlier, pressured by news that the company may still be a long way from getting approval to make CDMA cell phones in China. Shares of Qiao Xing Universal Telephone plunged 29 to 22 on volume of 4.63 million shares, far below the almost 13 million shares which traded Tuesday when the stock closed up 42 7/8 at 51. The stock price fell Wednesday after Reuters reported that an official at the Ministry of Information Industry in Beijing said Qiao Xing had yet to file an application. Reuters quoted the official as saying, "There have been no approvals for CDMA and this will have to wait until the WTO issue is resolved." In a Tuesday press release, Qiao Xing's chairman, Rui Lin Wu said the Ministry of Information is expected to review the company's application with the Economics and Trade Committee before the year's end.<<