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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: wmwmw who wrote (48356)	12/30/1999 3:12:00 PM
From: Anthony@Pacific	Read Replies (1) \| Respond to of 122087

Posibly right butt the greater fool theory doesnt alwasy work and this one looks to be a set-up on the long side Dec 29 1999 13:35 Qiao Xing Falls as China Says Approval `Long Way' Off (Update1) (Updates with closing stock price.) Guangdong, China, Dec. 29 (Bloomberg) -- Qiao Xing Universal Telephone Inc. fell 57 percent after financial news network CNBC reported the Chinese government said the telephone-equipment maker is a ``long way' from getting approval for its application to make wireless phones using a popular technology. The shares of Qiao Xing fell 29 to 22 in Nasdaq Stock Market trading of 4.6 million, more than eight times the three-month daily average. Qiao Xing rose more than sixfold yesterday after Qiao Xing said the Guangdong province was reviewing the company's application to make wireless phones using code-division multiple access, or CDMA, technology, the world's second-most popular digital cell-phone standard. In October, the Chinese Ministry of Information said it would authorize three to five companies in China to make CDMA cell phones and grant interest-free loans to the selected companies, Qiao Xing said. Page 2 / China currently produces cell phones using global system for mobile communications, or GSM, technology. It is the most popular standard, and is dominant in Europe and Asia. Qiao Xing Universal has 1,350 retail outlets in China. --Kim Jordan in the Princeton newsroom (609) 279-4034/sle/jjs Story illustration: To graph the performance of Qiao Xing Universal's stock performance, type XING US <Equity> GP <Go>.