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

To: ms.smartest.person who wrote (151)	1/23/2001 3:54:24 AM
From: ms.smartest.person	Read Replies (1) \| Respond to of 2248

Tuesday, January 23 9:24 AM SGT MARKET TALK-HK: Another PCCW Executive Raises Stake asia.biz.yahoo.com 0925 [Dow Jones] Another key Pacific Century CyberWorks (0008) executive raised stake amid sharp fall in share price last week. HK stock exchange says PCCW deputy chairman Alex Arena bought 50,000 shares at average price of $4.075 each last Tuesday; transaction raises his stake to 101,000 shares. Arena also bought 51,000 shares at average price of $4.825 each early this month. As mentioned earlier, chairman Richard Li bought US$20 million worth of convertible bonds for US$17.1 million last Wednesday.(STT) 0922 [Dow Jones] USD/HKD expected in narrow 7.7996-7.7997 range, says European bank trader; "people are getting ready for the Chinese New Year holidays and there isn't very much going on." pair now flat at 7.7997.(MEW) 0918 [Dow Jones] Analysts say Pacific Century CyberWorks (0008) chairman Richard Li has made paper gain of at least US$510,000, thanks to purchase of US$20 million worth of PCCW convertible bonds last Wednesday. Transaction done when stock fell to record low of $3.87 but with 25% rebound in PCCW shares since Wednesday, price of convertible bond has also risen significantly, from $83.88 Wednesday to $88.09 Friday.(STT) 0915 [Dow Jones] Swire Pacific (0019) may be looking to borrow up to $4.5 billion, in syndicated loans or bonds, to pay for yet undetermined amount of land premium on Citiplaza, Sing Tao Daily reports quoting unnamed sources. Moody's yesterday affirmed Swire's A3 rating on foreign currency debts after land premium ruling, and expects lowly-geared Swire to meet payment via either internal resources or borrowing; report unlikely to have impact on Swire shares, which closed up 3.1% at $59 yesterday.(IVW) 0911 [Dow Jones] Pacific Century CyberWorks (0008) chairman Richard Li bought US$20 million worth of PCCW convertible bonds for US$17.1 million from secondary market last Wednesday, HK stock exchange discloses in statement, on day when share prices fell to record low of $3.87 on concerns about C&W PLC's pending share disposal. Analysts say bond purchase will help boost sentiment but worries remain about C&W's pending sale; stock's near-term upside limited after rebounding 25% since Wednesday; ended up 4.9% at $4.85 yesterday.(STT) 0907 [Dow Jones] Henderson Land (0012) executive director C.K. Lau bearish about HK residential property market because of "huge difference between demand and supply". Lau's comment not surprising as developers have been pressuring government to reduce supply of subsidized housing; impact on property shares likely small given developers, including Henderson, have already been slashing prices for flats due to competition from new batch of high quality home-ownership scheme flats.(IVW) 0902 [Dow Jones] Latest profit warning, this time from computer giant Dell, unlikely to have significant impact on computer stocks in Asia; warning on 4Q outlook not unexpected given recent warnings from fellow PC makers like Gateway and Apple, although some analysts surprised by scope of reduction (Dell now expects 18 cents/share from previous 26 cents/share). Note Dell shares fell as much as $2 early in U.S. but recovered to be down 12.5 cents. Nasdaq 100 futures not reacting too much in early Asia screen trade, down 0.7% but still slightly above fair value.(RXM) 0857 [Dow Jones] Hibor opens down a touch on lower fund demand, says trader at U.K. bank. "Players usually need HKD to square positions before Chinese New Year, but HKD demand is already starting to subside because the public holidays (Wednesday-Friday) start tomorrow." Notes Hibor likely to fall further after holidays. Overnight Hibor now 5.87% vs 6.5% late Monday.(MEW) 0852 [Dow Jones] Salomon Smith Barney analyst Michael Siu suggests FPB Bank (0717) shareholders, who have yet to accept general offer by Bank of East Asia (0023), to acceptance offer, rather than wait for compulsory acquisition after deadline on Feb 6. FPB Bank intends to apply for suspension of share dealing from Feb 2; so Feb 1 would be last trading day. Shares closed at $3.475, 0.7% below offer price of $3.50.(STT) 0847 [Dow Jones] KBC Financial Products has issued 6-month European call warrant on Hang Seng Bank (0011). Strike price set at $116.30; warrant (10-for-1) priced at 71 cents. At 30% implied volatility, new issue slightly more expensive than existing peers, but given stock trading around historical high, new issue being out-of-money and of high gearing useful for punters looking for less risky bet.(IVW) 0841 [Dow Jones] TECHNICAL ANALYSIS: Look for further downside for Nasdaq and DJIA on charts, says Dow Jones chief market technician Stephen Cox; "the Nasdaq hasn't yet tested the upside targets at first and second resistance. A selloff in early trading (Tuesday) is likely." Has first resistance at 2930.21 and then 3049.21, with initial support at 2673.79. Expects DJIA to test support at 10452.08 and then 10375.47.(RXM) 0835 [Dow Jones] HK December deflation eased due to strong base effect and slower decline in property prices, says Dao Heng Bank Senior Economist Daniel Chan. Notes easing trend likely to continue but inflation not expected to set in until 2H01. Says "consumer spending is still rather weak, and we don't expect significant upward movement in prices too soon."(MEW) 0830 [Dow Jones] HK composite CPI fell 1.8% on-year in December vs 2% on-year decline in November, says Census and Statistics Department. Easing deflation in December mainly due to moderate decline in private housing rentals and to higher prices of miscellaneous services such as package tours and private medical services. Composite CPI fell 3.7% for year 2000 as a whole.(MEW) 0824 [Dow Jones] Short-selling turnover down 14.8% at $396 million yesterday; number of stocks shorted rose to 31 from 28. Telcos again heavily shorted, led by Pacific Century CyberWorks (0008) with $106 million worth of shares shorted, followed by China Mobile (0941) with $74.5 million, and Hutchison Whampoa (0013) with $50.5 million. Swire Pacific A's (0019) rebound after company lost land premium arbitration case has attracted $47.7 million worth of short-selling.(IVW)

To: ms.smartest.person who wrote (151)	1/23/2001 4:10:35 AM
From: ms.smartest.person	Read Replies (1) \| Respond to of 2248

Meanfiddler enters Asia with live music footage supply agreement with PCCW AFX - 1/22/01 8:16:15 AM LONDON (AFX) - Meanfiddler.com PLC said it has signed an agreement to provide live music footage to Network of the World (NOW), a subsidiary of Pacific Century CyberWorks Ltd, PCCW, Asia's leading integrated technology company. NOW is a joint venture between PCCW and Trans World International, TWI, who are the sole provider of content to NOW, the company said. The Mean Fiddler Group (MFG) was established by Vince Power in 1982, and is now a leading music festival and venue promoter in the UK. Meanfiddler.com's Chairman Vince Power said this agreement is a "milestone in our development as it pushes the meanfiddler.com brand onto a new global audience." mkp eng.stockhouse.com.hk