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

To: ms.smartest.person who wrote (408)	2/21/2001 11:51:12 PM
From: ms.smartest.person	Read Replies (1) \| Respond to of 2248

PCCW Shares Buoyant Despite Telecoms Selloff Feb 22, 2001 - 11:24:35 HKT Quamnet News Service Pacific Century CyberWorks Ltd. (0008), Richard Li's telecommunications vehicle, alternated between negative and positive territory but still managed to stay out of the whirlpool that swallowed other telecoms stocks in morning trading. At 11:48 a.m. Hong Kong time, the stock was down 0.57 percent at HK$4.35, after being up as much as 1.1 percent earlier. This compared with a 1.6 percent fall in the benchmark Hang Seng Index and 2.1 percent loss in the Hang Seng Commerce & Industry sub-index, which inlcudes telecoms. More typical of the performance of telecoms stocks was China Mobile (0941), the mainland's largest cellphone operator, which fell 3.9 percent to HK$42, influenced by the continued decline of Nasdaq-listed tech stocks overnight. Some traders said they suspected some investment banks of buying the shares to move the price higher to help Cable & Wireless plc, PCCW's second-largest shareholder, find a buyer for half of its 15 percent interest in the company. C&W's hitherto unsuccessful efforts to place the shares have weighed heavily on PCCW's stock price in recent weeks. quamnet.com