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Technology Stocks : Pacific Century CyberWorks (PCW, PCWKF) -- Ignore unavailable to you. Want to Upgrade?

To: ms.smartest.person who wrote (2331)	9/9/2000 3:09:05 AM
From: ms.smartest.person	Read Replies (1) \| Respond to of 4541

RPT-WRAPUP 1-US share signals confuse Asia, Japan jumps higher zdii.com By Sarah Cheung SINGAPORE, Sept 8 (Reuters) - Mixed signals from Wall Street gave most Asia markets little direction, but Japan was an exception as it snapped an eight-day downward slide to finish more than one percent higher, partly spurred by Nasdaq gains. Japan's key Nikkei average <.N225> closed 1.23 percent higher at 16,501.55 on Friday, despite a ratings downgrade for Japan's sovereign debt by Moody's Investment Service. "This has been long expected anyway, although it may have come a little earlier than expected," said Akihiko Sakakibara, stock investment manager at Sumitomo Marine Asset Management. "Investors instead took a cue from Nasdaq gains in a market where a rebound had been quite overdue." The battered euro pulled back from fresh record lows set against the yen overnight and was firmer against the dollar, waiting for a European finance ministers meeting later on Friday. By 0614 GMT the euro <EURJPY=> was trading at 91.83/1.88 yen and $0.8709/14 <EUR=>. Benchmark U.S. crude prices took a breather in after-hours Asian trade, as supply giant Saudi Arabia vowed to seize control of the market. New York Mercantile Exchange (NYMEX) October crude was trading 33 cents lower than Thursday's settlement at $35.06. That still left levels near their highest in a decade. European shares looked set for a nervous start as investors continued to fret over steep oil prices and a fragile euro, and with key U.S. stock indicators having gone contradictory ways. On Wall Street, the tech-heavy Nasdaq Composite Index <.IXIC> jumped 2.12 percent on Thursday to finish at 4,098.35 on a tech sector rebound. The Dow Jones industrial average <.DJI>, however, trudged 0.45 percent lower to 11,259.87 as worries over soaring energy costs and a strong dollar hit old economy shares. HONG KONG, KOREA DIP LOWER Hong Kong's Hang Seng index <.HSI> dipped 0.47 percent to 17,350.05, with investors cautious ahead of share placements that could put downside pressure on the market. "Investors are worrying about cash call and major placements. The market is expecting further placements from PCCW (Pacific Century Cyberworks), China Mobile, the MTR and Sinopec; investors are holding on to their cash," said Andrew To, head of research at Tai Fook Securities. Korea's key KOSPI <.KS11> staged a late rally but failed to finish in positive territory, ending 0.41 percent down at 653.68. Australia stretched to finished higher, resisting downside pressure from investors selling heavyweight Telstra <TLS.AX><TLSCB.AX>. The benchmark S&P/ASX index <.AXJO> closed 0.41 percent at 3,320.3. Taiwan shares slid to a 10-month low as the market continued to fall on concern over microchip shares. "Despite Nasdaq's rebound, Taiwan's electronics continued downward corrections on worries over the outlook of microchip stocks," said Ben Lee, senior analyst at Nomura Securities. Malaysia outdid Taiwan's slide to drop to a fresh nine-month low, led by foreign selling of banks and power utility Tenaga <TENA.KL>. The Kuala Lumpur Stock Exchange's composite index <.KLSE> was down 1.05 percent at midday to 735.84. ((For the state of play of Asian stock markets please click on: <0#.INDEXA>))