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

To: ms.smartest.person who wrote (150)	1/23/2001 3:52:43 AM
From: ms.smartest.person	Read Replies (2) \| Respond to of 2248

Monday, January 22 3:26 PM SGT MARKET TALK-HK: PCCW Co Wt May Be Undervalued asia.biz.yahoo.com 1526 [Dow Jones] PCCW company warrant W0112 (0587) down 3.4% at 43 cents, despite 1.1% rise in underlying Pacific Century CyberWorks (0008) shares; warrant may therefore be undervalued vis-a-vis derivative peers such as CS-PCCW EC0110 (2135), up 8.7% at 5 cents, and CL PCCW EC0108 (2149), flat at 9.4 cents. Traders betting on further upside on PCCW shares but wary about their downside, may pick company warrant as choice vehicle.(IVW) 1516 [Dow Jones] Core Pacific-Yamaichi expects Founder (0418) to announce strong FY00 earnings in April; says that and positive impact from corporate restructuring will help stock regain $3 level by year-end; stock up 1.1% at $2.40, rising for 3 consecutive days. CPY says another China tech play, Stone (0409), will reach $2 by year-end; however that depends on company's investments and asset injection plans; stock flat at $1.36.(IVW) 1512 [Dow Jones] HKD 1-year forward slightly lower in line with long-end Hibor, says UK bank trader in HK; "the spread between the forward and the spot is widening to reflect the greater differential between Hibor and USD Libor." 1-year forward now at discount of 100-90 to spot vs 94-90 discount late Friday.(MEW) 1509 [Dow Jones] Recent moves by Bank of China and Standard Chartered to charge small depositors fees unrelated to upcoming deregulation of banking sector, says Keith Irving, analyst at Merrill Lynch. Says fees due to massive surplus in liquidity and banks' limited lending opportunity. Explains small deposits may cost more to administer then they can earn in, for example, the interbank market.(STT) 1506 [Dow Jones] USD/HKD down slightly late today on fund inflows from neighboring countries, says trader at local bank; notes HKD demand sparked by higher short-end Hibor rather than by political instability in region. "There is some HKD buying interest, but it's quite normal, and I wouldn't say it's due to such political factors as what is happening in the Philippines," trader adds. Pair now 7.7997 vs 7.7998 late Friday. (MEW) 1506 [Dow Jones] Chase JF futures trader says some medium-term bullish investors squared long positions at around 15900 in Hang Seng January futures on belief market has already realized it gains. Says while market hasn't reached peak yet, it would take some time to establish new medium-term outlook. Suggests short-term players buy again at 15700. January futures up 0.2% at 16012 on volume of 9,397 contracts.(STT) 1459 [Dow Jones] TECHNICAL ANALYSIS: Hutchison Whampoa (0013) shares may have $3 upside, says Dow Jones analyst John Wu, after breaking upper resistance of 3-month triangle consolidation late last week; stock now up 1% at $105. Notes resistance at $108 already tested several times in August, October, and November last year; support at $102 (38.2% Fibonacci retracement).(JZW) 1452 [Dow Jones] Overnight Hibor expected to fall to around 5% following Chinese New year holidays (Wednesday-Friday), says trader at UK bank in HK; players who need to square positions pre-holidays currently keeping short-end Hibor at high levels. Overnight Hibor quoted 5.87% vs 5.37% late Friday.(MEW) 1451 [Dow Jones] Swire Pacific (0019) may gain further, now up 0.9% at $57.75, on news Moody's not overly concerned by loss of its arbitration proceedings in land premium dispute; affirms Swire's A3 long term rating. Says while Swire's financial profile will be weakened, remains appropriate for existing rating level; "the negative cash flow impact will be absorbed by improved cash flow from its core businesses". One cautionary note: adds Swire's ability to absorb financial consequences of setback contingent upon continued recovery of office sector and stable performance of aviation business.(RXM) 1449 [Dow Jones] HSI gives up some of its earlier gains; now up 0.7% at 16045, supported by strength in China Mobile (0941) and Pacific Century CyberWorks (0008); investors switching from property stocks to laggard telecom shares as rate sensitivity appears to have run its course; SHK Properties (0016) down 0.6% at $83.50; Henderson Land (0012) down 3.2% at $41.90. First Pacific (0142) still going strong on rebound in peso, up 19.8% at $2.425, but still clouded by possible political instability in Indonesia.(IVW) 1441 [Dow Jones] OUB Securities says U.S. data strongly suggestive of economic slowdown that could degenerate into recession if Fed doesn't continue to cut rates aggressively. U.S. manufacturing already in recession as industrial production continued fall for third straight month in December; U.S. factories facing weakest conditions since 1990/91 recession. So, OUB says, there are reasonably strong grounds to expect at least another 25- to 50-bp Fed rate cut end-January.(AXH) 1436 [Dow Jones] News shareholders of Jiangxi Copper (0358) have given approval to issue up to 230 million A-shares, according to stock exchange statement, unlikely to impact shares given long expected, say analysts. Issue price not set yet but analysts say likely at huge premium to HK-listed H-shares; several H-share companies have recently issued A-shares at premium to their book values.(STT) 1425 [Dow Jones] Nikkei ends up 43.30, or 0.3%, at 14032.42, extending latest series of higher closes to 7 sessions, longest winning streak since mid-August, 1999; also finishes above 14000 for first time since Dec. 26. Intraday falls amid profit-taking pressure after recent gains, but bargain hunters manage to lift index back to end positive. (YXN) 1405 [Dow Jones] Short-selling turnover down 3.6% at $185 million by midday. Telcos again making up most of short-selling volume; China Mobile (0941) with $56.5 million and Pacific Century CyberWorks (0008) with $49.6 million.(IVW) 1348 [Dow Jones] STOCK CALL: As traffic growth slows significantly and fuel prices remain high, HSBC Securities expects Cathay Pacific's (0293) FY01 EPS to fall 11% to $1.32, or 13% below consensus; notes Cathay's previous tendency to underperform when interest rates fell. Advises investors to reduce holdings at current level; shares down 0.8% at $12.45.(IVW)