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Technology Stocks : PCW - Pacific Century CyberWorks Limited -- Ignore unavailable to you. Want to Upgrade?

To: ms.smartest.person who wrote (11)	1/11/2001 11:09:50 AM
From: ms.smartest.person	Read Replies (1) \| Respond to of 2248

MARKET TALK-HK: PCCW's Alex Arena Buys Back Shares Wednesday, January 10 10:05 AM SGT asia.biz.yahoo.com MARKET TALK-HK: PCCW's Alex Arena Buys Back Shares 1005 [Dow Jones] According to HK Exchanges and Clearing, deputy chairman of Pacific Century CyberWorks (0008) Alex Arena bought $243,750 worth of company's shares at $4.875 apiece on Jan 3. Purchase comes after chairman Richard Li bought 23,000 ADRs at about $4.97 each (or $1.14 million in total) on Dec 21; transactions likely to support share price amid recent lackluster performance; but no impact on shares expected as purchase amount small. Stock flat at $4.925.(STT) 0959 [Dow Jones] January HSI futures down 0.9% at 15415 as traders expect cash market to fall on concerns that property companies may scramble to issue new shares following sector's recent gains; however futures index unlikely to test support at around 15100, they say.(IVW) 0955 [Dow Jones] Sino Land's (0083) share placement likely to pull down stock when trading resumes today, predicts W.I. Carr Indosuez research head Trevor Cheung. However, with expectations of more U.S. interest rate cuts and ongoing restructuring of Sino Land operations, maintains buy rating with 12-month target price at $5.30. Stock closed at $4.75 yesterday midday before suspension. Holding company TST Properties (0247), also suspended yesterday pending placement announcement, will resume trading today as well.(STT) 0953 [Dow Jones] Taiwan shares consolidating early, with quarterly moving average capping gains; index now up 0.9% at 5423. Strong TWD, speculation of more interest rate cuts, possible reversal of decision to halt key nuclear power project, and hopes of consolidation in banking sector, all buoying sentiment.(JWU) 0951 [Dow Jones] Sino Land's (0083) placement of 180 million shares yesterday has so far received only tepid response among fund managers, says sales head at European brokerage. Explains many funds think stock's current valuation high after recent knee-jerk rise on last week's U.S. rate cut. Sino Land has placed 180 million shares at $4.35 apiece, or 8.4% discount to yesterday's midday close at $4.75; over-allotment option of further 90 million shares available, which will allow Sino Land to raise up to $1.17 billion if fully subscribed. Sales head says underwriting agents have so far raised $800 million for placement.(STT) 0944 [Dow Jones] Sing Tao (0233) likely to rise when it resumes trading today after Lazard Asia sold its 51.4% stake to Global China Technology (1105) for $356 million, or $1.65/share vs pre-suspension price of $1.38; GCT, which resumed trading yesterday, obliged to make general offer to all other shareholders at $1.65. GCT rose 18% yesterday; Sing Tao's more profitable newspaper publishing peer SCMP (0583) closed up 7% at $6.10 after announcement of transaction.(IVW) 0940 [Dow Jones] HSI may open lower on concerns about further share placements by property companies; rumored candidates include Henderson Land (0012) and New World Development (0017); reception to Sino Land's (0083) placement yesterday said to be lukewarm. Telcos may also fall on Nokia's worse-than-expected sales last year. However HSI downside likely limited; 15000 support not expected to be tested.(IVW) 0934 [Dow Jones] Hutchison Whampoa's (0013) subsidiary Hutchison Telecom undecided on whether it wants HK 3G license if regulator sticks to proposal that licensees must open up networks to non-licensed operators, South China Morning Post reports quoting managing director Agnes Nardi; Hutchison Tel will submit its views to regulator in next few weeks as government's 3G licensing proposal still in consultation period. SmarTone (0315) has also voiced objection to government's plan. No share price impact expected from Nardi's comment; method to allocate 3G licenses still not finalized yet.(IVW) 0931 [Dow Jones] Further signs of fundamental weakness in telecom tech sector may hurt Asia telcos and contract manufacturers: Nokia shares fell 9% overnight on lower-than-expected handset sales for 2000, dragging rivals including Motorola with it and suppliers of chip sets (Europe-listed telcos also sold). Of key concern is Nokia's estimate industrywide handset sales will total about 405 million for 2000 vs earlier estimate of 410 million.(RXM) 0926 [Dow Jones] Sunevision (8008) has bought back 5 million shares since listing last year but managing director Sheridan Yen not confirming if buyback would continue, though he considers current share price too low, Apple Daily reports. Despite having enough cash reserves, Yen also says company's acquisition plan halted because of falling valuations in possible information-technology targets. Separately company announces it has combined with JV to offer on-line property valuation service; news unlikely to move shares; closed at $2.80 yesterday.(IVW) 0922 [Dow Jones] Sino-i.com (0250) to acquire Beijing property for $200 million to set up its China headquarters. Still under negotiation whether to pay cash or 400 million shares, valued at 50 cents each. Price steep 355% premium to 11-cent closing price yesterday, which is likely to boost stock today. If paid entirely in shares, vendor would hold 9.3%.(KIR) 0916 [Dow Jones] Buyer of China Travel's (0308) 23.34% stake in property developer and investor Hing Kong (0535) is Singapore government-backed consortium, not Hing Kong's other major shareholder CyberCity Holdings, says unsourced Hong Kong Economic Journal report. China Travel said yesterday it has reached conditional agreement with undisclosed third party on sale of its Hing Kong stake, although it said in December it was in talks with CyberCity. Identity of buyer unlikely to affect China Travel shares as market already factored in likely sale price of Hing Kong stake, rumored between 90 cents and $1 apiece; Hing Kong shares last traded at 91 cents. China Travel closed up 3.8% at $1.08 yesterday; substantial upside unlikely.(KWW) 0911 [Dow Jones] ABC Multiactive, software subsidiary of Canada-based Multiactive Software, plans to raise $40-$56 million through flotation on a GEM, says unsourced South China Morning Post report. Report says 40 million shares expected to be sold to investors at $1-$1.40 apiece and listing likely by end-January or early February; says BNP Paribas Peregrine will be listing sponsor for issue.(STT)