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

To: ms.smartest.person who wrote (262)	2/7/2001 2:08:04 PM
From: ms.smartest.person	Read Replies (1) \| Respond to of 2248

Wednesday, February 7 9:43 AM SGT MARKET TALK-HK: PCCW May Rise On Stake Sale Talk 0943 [Dow Jones] Analysts doubt unsourced Ming Pao report which says Telecom Italia, with heavy debt after winning Italy's 3G mobile license, and telecom equipment maker Alcatel, with completely different business focus, interested in taking stake in Pacific Century CyberWorks (0008), which derives most of its earnings in fixed-line business. However say speculation C&W PLC may offload entire 15.3% stake in PCCW may trigger some knee-jerk buying as one-time disposal would put end to longtime worries. PCCW officials couldn't be reached for comments. Stock ended down 1.1% at $4.625 yesterday.(STT) 0939 [Dow Jones] HSI likely stuck in 15800-16200 range in light trading; implied volatility in options continuing to fall, suggesting traders expect market to be range-bound while awaiting bank results this month. Sales manager at Asian house says currently no news driving blue-chip market after rate cut but notes some overseas investors may be selectively picking up China-related stocks such as China Resources (0291), China Everbright Limited (0165).(IVW) 0932 [Dow Jones] So far, HK Chief Executive Tung and Financial Secretary Tsang have no public official engagements set for today, say their offices. But rumors Tsang set to be named new Chief Secretary for Administration, replacing outgoing Anson Chan, still swirling, along with suggestions JP Morgan Asia-Pacific chairman, Anthony Leung, has agreed to take Tsang's place. JP Morgan declines comment. Tung to attend televised question-answer session at Legislative Council tomorrow. (EAR) 0930 [Dow Jones] Taiwan shares down following heavily-weighted TSMC's bleak 1Q forecast, as expected, dealers say; lack of progress on part of government and opposition parties to agree on nuclear plant issue adding to market unease. Main index down 1.6% at 5758; support expected around 5600.(DER) 0928 [Dow Jones] Hutchison Whampoa (0013) may finalize pricing on its US$1.5 billion fixed-rate bond on Friday, says Apple Daily; issue consists of 2 tranches, 10-year and 30-year; indicative yield 180 bps above U.S. treasury of same maturity. Bankers say bond issue aims mainly to refinance Hutchison's existing debts, capitalizing on prevailing lower rate environment. Company doesn't need much extra funding to develop its scaled down 3G ventures; it currently has net cash of about US$9 billion and raising GBP3 billion non-recourse loan to develop U.K. network.(IVW) 0920 [Dow Jones] C&W PLC in talks with several global telcos to place entire 15.3% stake in Pacific Century CyberWorks (0008) when share lock-up period expires on Feb 17, says unsourced Ming Pao report. C&W PLC only allowed to sell half its stake initially in February and rest in August. Report also says PCCW actively looking for strategic investors hoping C&W PLC offloads entire PCCW stake. Adds Telecom Italia, France-based Alcatel and unidentified U.S.-based company in talks separately with C&W on likely stake purchase.(STT) 0918 [Dow Jones] TVB's (0511) pay-TV unit, Galaxy Satellite, may rent existing networks rather than build one to transmit contents to avoid large infrastructure costs, reports Apple Daily quoting Galaxy's executive; Galaxy's primary transmission medium will be satellite. Former fixed-line telephone monopoly Pacific Century CyberWorks (0008) and i-Cable (1097), with its fiber optic Cable-TV network, likely to benefit from Galaxy's move.(IVW) 0914 [Dow Jones] China Southern Airlines (1055) says it won't be affected by regulator's decision to lower upper limit of allowed fare adjustment to 14% from 20%, Sing Tao Daily reports; says cut may actually raise load factor. China, which has strict guidelines for domestic carriers about setting air fares, allowed 20% surcharge last year to cope with rising fuel prices. Lower limit unlikely to impact stock as airlines only raised their fares by 15% last year anyway.(IVW) 0904 [Dow Jones] USD/HKD steady vs late yesterday at 7.7998. Trader says HKD-selling yesterday, on higher USD Libor vs Hibor, likely subsided; doesn't expect pair to hit HKMA's convertibility rate of 7.8.(EAR) 0901 [Dow Jones] HKD forwards touch lower, in line with fall in most Hibor rates which began yesterday, after players completed preparations for big syndicated loan fixing and flush with cash. 1-year at discount of 90-80 to spot vs 87-80 late yesterday. HK trader says forwards likely to hold in 100-80 point discount near term.(EAR) 0859 [Dow Jones] NEW LISTING: China's TravelSky Technology (0696) expected to rise slightly on main-board debut given dominant position in mainland's air ticket reservation service sector which provides good earnings prospects, says institutional salesperson at European bank. International placement of 250.555 million shares 8.78X subscribed; HK public offer of 19.765 million shares 7.14X subscribed. State-owned company set price for H-shares at $4.10 apiece.(STT) 0854 [Dow Jones] HK's long bout of deflation has effectively made value of HKD "roughly fair," says Andrew Freris, chief regional economist at BNP Paribas. Also says falling prices "equivalent to a modest devaluation."(JTA) 0848 [Dow Jones]HK December retail sales grew 1% by value on-year and rose 3% in volume terms, says Census and Statistics Department. Retail sales up 0.4% in value and 1.3% in volume in November. Government also notes moderate growth in 4Q00 retail sales but says retail business still rose distinctly for 2000 as a whole "upon the overall economic recovery and strong growth in inbound tourism." Data in line with economists' forecasts.(MEW) asia.biz.yahoo.com