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Abend an Alle ! Chinadotcom up as trade vote nears By Carl Corry, CBS.MarketWatch.com Last Update: 3:46 PM ET Sep 1, 2000 NewsWatch Latest headlines NEW YORK (CBS.MW) -- Shares of Chinadotcom soared as much as 15 percent Friday as investors anticipated a friendly outcome when the U.S. Senate votes on permanent normal trade status for China next week. Chinadotcom (CHINA: news, msgs), which had been trading as high as $21.13 earlier in the session, eased to $19.31 in recent dealings. Trading volume on the stock surged more than sixfold over its daily average to more than 10 million shares. The company`s shares are up 30 percent, or $4.54, from its open on Monday. Today on CBS MarketWatch Broad rally on Wall Street Due Diligence: Harley just keeps on rolling Job market slows again in August Chip stocks lose their zing Net Stocks: Internet consultants get whacked More top stories... CBS MarketWatch Columns Updated: 9/1/2000 3:17:50 PM ET "We tend to trend with news about China and Asia," said Chinadotcom spokesman Craig Celek. The Senate vote could come as early as Tuesday, when the Senate begins 30 hours of debate on Tuesday, but will also talk about other issues. But, according to Les Alperstein of Washington Analysis, which tracks legislation for major institutional clients, it`s possible a vote won`t happen until next year Celek said investors are also happy that Hong Kong-based Internet firm New World Cyberbase recently relinquished the remainder of its holdings in Chinadotcom. Celek said New World had brought the company`s stock price down several times when it sold portions of its shares after lock-up periods had expired. Last week, Chinadotcom said it cut 48 jobs in China. The company employs about 2,100 people, Celek said. cu respektlos |
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| aus der Diskussion: | Hongkong.com Part 39 |
| Autor (Datum des Eintrages): | respektlos (01.09.00 22:55:05) |
| Beitrag: | 13 von 20 (ID:1725348) |
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