§ë¸ê

¤W¤@­¶ ] ­º­¶ ] ¦V¤W ] ¤U¤@­¶ ]


¤G¤d¹s¤G¦~¤C¤ë

plunged below 10,000 points ¶^¯}¤@¸UÂI
flotation price ©ÛªÑ»ù
nosedived 341.90 points ¤jÂm341.90ÂI
tend to work on a shorter investment horizon ¶É¦Vµu½u§ë¸ê
are more susceptible to being caught in panic selling ¸û©ö®£·W©Ê©ß°â
would see fairly strong support at $7.50 ¦b7.50¤¸·|¦³»á±j¤ä«ù
penny stocks ¥PªÑ
suffered a huge sell-off ³Q¤j¶q©ß°â
cancel the listing of stocks priced below 50 cents ¤­¨¤¥H¤UªºªÑ²¼­n°£µP
avert another big slump ÁקKªÑ¥«¦A¤j´T¤U·Æ
drop firms trading below 50 cents for 30 consecutive days ªÑ»ù­Y³sÄò¤T¤Q­Ó¥æ©ö¤é§C©ó¤­¨¤¡A¶·³Q°£µP
delisted stocks ³Q°£µPªºªÑ²¼
remove the worst-performing stocks ±½°£¦H½è¤½¥q
failing to anticipate market reaction §C¦ô¥«³õ¤ÏÀ³


¤G¤d¹s¤G¦~¤­¤ë

Standard and Poors has downgraded the credit ratings of Hong Kong property developers Hong Kong Land Holdings, Swire Pacific Properties and Hysan Development. ¼Ð·Ç´¶º¸½Õ§C­»´ä¼Æ®a¦a²£¤½¥qªº«H¶Uµû¯Å¡A¥]¬AHong Kong Land Holdings, Swire Pacific Properties©MHysan Development¡C
The report mentioned concerns about the profitability of the company's third-generation (3G) telecommunications networks in Europe. ³ø§i¹ï¡]©M¶À¡^¼Ú¬w3G¹q°T·~°Èªº¬Õ§Q¯à¤Oªí¥Ü¼~¼{¡C


¤G¤d¹s¤G¦~¤T¤ë

has returned to the black    ÂàÁ«¬°¬Õ(109)
did not declare a dividend    «Å¥¬¤£¬£ªÑ®§(109)


¤G¤d¹s¤G¦~¤@¤ë

looking for less risky investments    ´M§ä­·ÀI¸û§Cªº§ë¸ê¤u¨ã(103)
dividend-paying stocks/dividend stocks     ¦³ªÑ®§ªºªÑ²¼(109)
tend to hold up better in weak markets    ¥«³õ¯h®z®É§Ü¶^¤O³q±`¸û¦n(108)
carry the highest dividend yields    ªÑ®§³Ì°ª(109)
raise the dividend    ¼W¥[ªÑ®§(109)
buy back stock    ¦^ÁʪѲ¼(103)


¤G¤d¹s¤@¦~¤Q¤@¤ë

With the exception of market leader HSBC, bank shares were broadly lower at the close yesterday, with Hang Seng's shares ending down HK$1.00, or 1.26 per cent, at HK$78.50.    °£¤F·~¬ÉÀsÀY¶×Â׻Ȧæ¥~¡A¨ä¥L»È¦æªÑ¤@«ß³ø¶^¡CùڥͻȦæ¶^¤@¤¸¡A©Î¦Ê¤À¤§¤@ÂI¤G¤»¡A¦¬³ø78¤¸5¨¤¡C(108)


¤G¤d¹s¤@¦~¤E¤ë

Pacific Century Cyberworks returned to the black with a better-than-expected net profit of $935 million in the first six months of the year.    ¹q°T¬Õ¬ì¤µ¦~­º¤»­Ó¤ë·~ÁZÂàÁ«¬°¬Õ¡A¿ý±o¤E»õ¤T¤d¤­¦Ê¸U¤¸¯Â§Q¡A¸û¹w´Á²z·Q¡C(109)  
bucked the trend    °f¥«¦Ó¦æ(108) 
announced that its first-quarter earnings were off almost 50% from the prior year    ¤½¥¬²Ä¤@©u¯Â§Q¤ñ¥h¦~¦P´Á¤U­°ªñ¦Ê¤À¤§¤­¤Q(109)
backed away from its previous forecasts for the second half of the year    ºM¦^¸û¦­«e¹ï¤U¥b¦~ªº¬Õ§Q¹w´ú(109)
brings in about a third of company's profits    ¡]¬Y¶µ¥Ø¡^ªº¬Õ§Q¦û¤½¥qÁ`¬Õ§Qªº¤T¤À¤@(109)
skittish investors    ©ö¨üÅ媺§ë¸êªÌ(103)
by 2005 should account for almost half its revenues    ¡]¬Y¶µ¥Ø¡^¤G¹s¹s¤­¦~®Éªº¬Õ§QÀ³¦û¤½¥qÁ`¬Õ§Qªñ¥b(109)
has yet to enter the black    ¤´¦bÁ«·l¤¤(109)
cut its 2001 earnings outlook    ¤U½Õ¤G¹s¹s¤@¦~ªº¬Õ§Q¹w´ú(109)
issued a profit warning    µo¥X¬Õ§Qĵ§i(109)
raised a much-needed $8.3 billion from an issue of new equity    µo¦æ·sªÑ¶°¸ê¤K¤Q¤T»õ¤¸À³«æ(110)
¡@


¤G¤d¹s¤@¦~¤K¤ë

announced a big drop in profits of his flagship companies    «Å¥¬ºXÄ¥¤½¥q¬Õ§Q¤j¶^(109)
saw interim profit tumble 75.78 per cent to $4.21 billion    ¤¤´Á·~ÁZ¬Õ§Q¤j¶^¦Ê¤À¤§75.78¦Ü42.1»õ¤¸(109)


¤G¤d¹s¤@¦~¤C¤ë

abandon plans to raise US$2.5 billion by selling 10-year bonds     ©ñ±óµo¦æ¤Q¦~¨é¶°¸ê­p¹º¡A­p¹º­ì¥i¬°¤½¥q¶°¸ê¤G¤Q¤­»õ¬ü¤¸(110)
has already seen its share price plummet more than 92 per cent from its peak    ªÑ»ù¤w¦Û°ª¦ì¤U¶^¦Ê¤À¤§¤E¤Q¤G(108)
the worst performer on the blue-chip index    ªí²{³Ì®tªºÂÅÄwªÑ(108)


¤G¤d¹s¤@¦~¤»¤ë

The Nasdaq is testing support at the 2,000 level - if it breaks below that the Hang Seng could test 12,500 in the near term because it has a high weighting of telecom stocks.    ¯Ç«ü¥¿¤U¸Õ¤G¤dÂI¤ä«ù¦ì¡A­Y¦u¤£¦íùÚ«ü±N¦bµu´Á¤U¸Õ¤@¸U¤G¤d¤­¦ÊÂI¡A¨Æ½t¹q°TªÑ¦bùÚ«ü¤¤¦û»á­«¤ñ¨Ò¡C(107)
buy back its own shares    ¡]¤½¥q¡^¦^Áʪѥ÷(107)


¤G¤d¹s¤@¦~¤­¤ë

Turnover was heavy at $11.33 billion with gainers leading losers 373 to 133.    ¥æ§ë¬¡ÅD¡A¦¨¥æÃB¹F¤@¦Ê¤@¤Q¤T»õ¤T¤d¸U¤¸¡C¤W¤ÉªÑ²¼¦@373°¦¡A¤U¶^ªÑ²¼¦@133°¦¡C(108)
China Southern closed up 7.29 per cent at $2.575 on strong volume of $128.57 million.    «n¤è¯èªÅ¤É¦Ê¤À¤§7.29¡A¦¬³ø2.575¤¸¡A¦¨¥æ¹F1»õ2857¸U¤¸¤§¦h¡C(108)
directors' salaries    ¸³¨Æ¹Sª÷(109)
directors' remuneration    ¸³¨Æ¹Sª÷(109)
The price of PCCW's shares has fallen more than 82 per cent since the company took over HKT on August 17, closing at $2.70 yesterday.    ¬Õ°Ê¦b¥h¦~¤K¤ë¤Q¤C¤é¦¬ÁÊ­»´ä¹q°T«á¡AªÑ»ù¤U¶^¹O¦Ê¤À¤§¤K¤Q¤G¡A¬Q¤é¦¬¥«»ù¬°¤G¤¸¤C¨¤¡C(108)
The merger would make us a growth company, not a dividend company.    ¦X¨Ö«á¹q¬ÕªÑªF±o¯q±N¥D­n¨Ó¦ÛªÑ­È¼Wªø¡A¨Ã«DªÑ®§¡C(109)
minority shareholders    ¤pªÑªF(105)
invested her life savings in 8,000 CyberWorks shares     °Ê¥Î¤F²¦¥Í¿n»WÁʶR8000ªÑ¹q¬Õ(105)
She bought 30,000 PCCW shares at $5.70, but said she did not expect them to return to that level for years.    ¦o¥H¨CªÑ¤­¤¸¤C¨¤ªº»ù¿úÁʤJ¤T¸UªÑ¹q¬Õ¡A¦ý¦o»¡¹w´Á¤µ¦~¤º³£Ãø¥H¦^¥»¡C(108)
the benchmark index's second largest constituent    ²Ä¤G¤jùÚ«ü¦¨¤ÀªÑ(105)


¤G¤d¹s¤@¦~¤T¤ë

was listed on Hong Kong's stock exchange on October 5, 2000    ©ó¤G¤d¦~¤Q¤ë¤­¤é¦b­»´ä¤W¥«
profit from its property developments    ¦a²£µo®i¦¬¯q
profit from railway and related operations before depreciation    §é«eÅK¸ô©M¬ÛÃö·~°È¦¬¯q
ended down 10.47 per cent at $35.90    ¤U¶^¦Ê¤À¤§10.47¡A¦¬³ø35.90¤¸
fell 11.01 per cent to $10.50    ¤U¶^¦Ê¤À¤§11.01¡A¦¬³ø10.50¤¸
underperforming the benchmark Hang Seng Index    ¶]¿é¤j¥«
reiterated their ''buy'' rating on China Mobile    ºû«ù¹ï¤¤°ê²¾°Êªºµû¯Å¬°¡u¶R¤J¡v
reiterate our buy rating with $57.59 price target     ºû«ù¡u¶R¤J¡vµû¯Å¡A¥Ø¼Ð»ù57.59¤¸
technology-laced Nasdaq Composite Index    ¥Nªí¬ì§ÞªÑªº¯Ç«ü
Interest rate sensitive property counters were also weak.    ®§¤f±Ó·Pªº¦a²£ªÑ¥çªí²{¯h®z¡C
Market turnover totalled $1.98 billion (US$254 million) after 45 minutes trade. Losers outstripped gainers 291 to 28 with 424 stocks unchanged.    ¶}¥«ÀY¥|¤Q¤­¤ÀÄÁ¦¨¥æÃB¬°¤Q¤E»õ¤K¤d¸U¤¸¡]¤G»õ¤­¤d¥|¦Ê¸U¬ü¤¸¡^¡C¨ä¤¤¤G¦Ê¤E¤Q¤@°¦ªÑ²¼³ø¶^¡A¤G¤Q¤K°¦ªÑ²¼³ø¤É¡A¥|¦Ê¤G¤Q¥|¥NªÑ²¼»ù®æºû«ù¤£ÅÜ¡C
trading volumes were low because of widespread investor caution    ¥Ñ©ó§ë¸êªÌºA«×ÂÔ·V¡A¬G¦¨¥æ¶q§C
test the 13,600 support level    ¤U¸Õ13,600ÂI¤ä«ù¦ì
did not escape the sell-off    ¥ç¾D©ß°â
plunge into 12,000 territory    ¶^¦Ü¤@¸U¤G¤d¦hÂI¤ô¥­
will fall to the range of 10,000 to 12,000 this year    ¤µ¦~·|¶^¦Ü¤@¸U¦Ü¤@¸U¤G¤dÂI¤ô¥­ 
The write-off put CyberWorks in a position of negative shareholder equity totalling US$1.8 billion.     ¬O¦¸ºJ±b¥O¹q¬Õ³B©ó­t¸ê²£ª¬ºA¡A­t¸ê²£Á`­È¤Q¤K»õ¬ü¤¸¡C
paid a total of $2.36 billion in interest alone last year    ¥h¦~³æ¬O¥I§Q®§´N¥Î¤F¤G¤Q¤T»õ¤»¤d¸U¤¸
one-off write-off    ¤@¦¸¹LºJ±b
Turnover this year is likely to see high single-digit growth.    ¤µ¦~Àç·~ÃB¦ô­p¦³±µªñ¤Qªº³æ¦ì¼Æ¼Wªø¡C


¤G¤d¹s¤@¦~¤G¤ë

track stocks throughout the day    ¥þ¤é°lÁaªÑ²¼»ù®æ
before the market closes    ¦b¦¬¥««e
Hong Kong-listed mainland companies    ­»´ä¤W¥«¤º¦a¤½¥q
are trading at less than 10 times price-to-earnings (PE) ratio    PE§C©ó¤Q
China-related stocks    ¤¤°ê·§©ÀªÑ/¬õÄwªÑ
surged sharply    ¡]ªÑ²¼¡^¤j¤É
Red chips    ¬õÄwªÑ
H shares    HªÑ
domestic investors to trade in B shares    ®e³\°ê¤ºªÑ¥ÁÁʶRBªÑ
Analysts said Beijing would probably not place too many restrictions on the use of foreign currency to buy B shares.    ¤ÀªR­ûªí¥Ü¥_¨Ê·í§½¦h¤£·|¹ï¥Î¥~¹ôÁʶRBªÑ¤@¨Æ³]¸m¤Ó¦h­­¨î¡C
opened the door to its B-share market to domestic investors    ¶}©ñBªÑ¥«³õ¤©¤º¦a§ë¸êªÌ
The Hang Seng Index ended up 1.20 per cent at 15,280.56 with $11.3 billion (US$1.44 billion) worth of shares changing hands, higher than Thursday's turnover of $10.6 billion. The index fell 2.24 per cent over the week.    ùڥͫü¼Æ¤W¤É¦Ê¤À¤§¤@ÂI¤G¡A¦¬³ø15280.56ÂI¡A¦¨¥æÃB¤@¦Ê¤@¤Q¤T»õ¤¸¡]¤Q¥|»õ¥|¤d¸U¤¸¡^¡C¤ñ©P¥|ªº¤@¦Ê¹s¤»»õ¤¸¬°¦h¡Cùڥͫü¼Æ¤@©P¦@¶^¦Ê¤À¤§¤GÂI¤G¥|¡C
The Hang Seng is now up 1.23 per cent since the start of the year, performing about in line with Singapore's benchmark Straits Times Index, but lagging behind most other major Asian markets excluding Japan.    ùڥͫü¼Æ¤ñ¦~ªì¤É¤F¦Ê¤À¤§1.23¡Aªí²{©M·s¥[©Y®ü®l®É³ø«ü¼Æ¬Û­Y¡A¦ý¤ñ¨ä¥L¨È¬w¥«³õ¡]°£¤é¥»¡^¸¨«á¡C
ended up four per cent at $4.55    ¤W¤É¦Ê¤À¥|¦¬¥|ÂI¤­¤­¤¸
PCCW stock has fallen 9.9 per cent so far this year on fears that Britain's Cable & Wireless will offload half of its 15 per cent stake in PCCW after a lock-up period expired earlier this week.    ¬Õ°Ê¦Û¦~ªì¦Ü¤µ¤w¤U¶^¦Ê¤À¤§¤EÂI¤E¡A¤U¶^­ì¦]¬°¥«³õ¾á¤ß¤jªF·|¦b¥»©Pªì¸T°â´Áµ²§ô®É©ß°â¹q¬ÕªÑ²¼¡C
Shares of global banking giant HSBC were up 1.3 per cent on the day and the year at $117 ahead of the release on Monday of its 2000 earnings.    ¸ó°ê»È¦æ¶°¹Î¶×Â×±±ªÑ¤µ¤é¤W¤É¦Ê¤À¤§¤@ÂI¤T¡A¶×Â×±N©ó¤U©P¤@¤½¥¬¤G¤d¦~·~ÁZ¡C
bad debt provisions fall    §bÃa±b¼·³Æ´î¤Ö
cast a vote of no-confidence by selling down the shares of Cheung Kong and Hutchison    ©ß°âªø¹ê©M©M¶ÀªÑ²¼¥H¥Ü¤£º¡
The key Hang Seng Index ended down 395.49 points or 2.60 per cent at 14,834.73, off an earlier low of 14,771.09, its lowest level since January 3.    ùڥͫü¼Æ¥þ¤é¤U¶^395.49ÂI©Î¦Ê¤À¤§¤GÂI¤»¡A¦¬³ø14834.73ÂI¡CùÚ«ü¤@«×¶^¦Ü14,771.09ÂI¡A¬°¤@¤ë¤T¤é¥H¨Ó³Ì§C¤ô¥­¡C
Turnover was heavy at $14.6 billion (US$1.87 billion), the highest since January 19.    ¦¨¥æ¬¡ÅD¡C¦¨¥æÃB¹F¤@¦Ê¥|¤Q¤å»õ´ä¤¸¡]¤Q¤KÂI¤C»õ¬ü¤¸¡^¡A¬O¤@¤ë¤Q¤E¤é¥H¨Ó¦¨¥æÃB³Ì¤jªº¤@¤Ñ¡C
lowered its rating on HSBC Holdings to ''sell'' from ''hold"    ½Õ§C¸Ó¦æ¹ï¶×±±ªºµû¯Å¡A¥Ñ¡u«ù¦³¡v§ï¬°¡uªf°â¡v
Hang Seng Bank stock lost 6.65 per cent to $94.75 after posting a 20.5 per cent increase in net profits to $10.14 billion, slightly below consensus estimates.    ùڥͻȦ椽³ø·~ÁZ¡A¯Â§Q¼Wªø¦Ê¤À¤§¤G¤QÂI¤­¡A¹F¤@¦Ê¹s¤@»õ¥|¤d¸U¤¸¡A¤ñ´¶¹M¹w´Á²¤§C¡CùڥͻȦæ¤U¶^¦Ê¤À¤§6.65¡A¦¬³ø94.75¤¸¡C
have been trading at discounts to their net asset values    ªÑ»ù¤@ª½¦³§éÅý
pay a special dividend of 27 HK cents with a final dividend of 50 HK cents    ¬£µo¥½´ÁªÑ®§¤­¤Q¥P©M¯S§OªÑ®§¤G¤Q¤C¥P
issue one bonus share to shareholders for every five shares held    ¤­°e¤@¬õªÑ
He said CLP's financial position was in good shape and the company was sitting on a cash pile of about HK$2.2 billion.    ¥Lªí¥Ü¤¤¹q°]¬Fí°·¡A¥Ø«e§¤¾Ö¸êª÷¤G¤Q¤G»õ¡C


¤G¤d¹s¤@¦~¤@¤ë©Î¥H«eµü¥y