CASH - Wir warten bis zum $ (Teil 5) - 500 Beiträge pro Seite

[sevim]

Hallo Casher,

willkommen zum 5.Teil unserer Cash-Serie.




Statistik zum 4. Teil:

Vom 26.10.2000 bis zum 6.12.2000 haben 1246 Besucher die Seiten besucht. Im Durchschnitt also 30 Leser pro Tag. Also keine Veränderung gegenüber dem 4.Teil.

Kurzinfo: Celest Asia Securieties Holding (kurz Cash) ist momentan mit 0.05 Euro ein stark unterbewerteter hongkonger Online-Brokerage-Bank-Titel, der demnächst ihre Online Tochter Cashon-line an die Wachstumbörse GEM in HongKong bringen wird. Wer bis zur Ipo Cash-Aktien hält, bekommt als Dividende 10 % Cashon-line-Ipo-Aktien umsonst auf sein Depot gutgeschrieben. Erwartete Ipo-Kurssteigerung von Cashon-line: 100 % bis 400 %. Außerdem ist Cash an der OTCBB gelistet, was zum Sinn hat, in naher Zukunft in die Nasdaq aufzusteigen. Voraussetzung ist die EIN-DOLLAR-GRENZE, weshalb unser Thread "CASH, wir warten bis zum Dollar" heißt. (Ein Dollar Aktien kann man per Brief in 4 Dollar Aktien bündeln und so an die Nasdaq bringen)

Die vorherigen 4.Teile:

1. Teil: http://www.wallstreet-online.de/ws/community/board/thread.p…

2.Teil: http://www.wallstreet-online.de/ws/community/board/thread.ph…

3.Teil: http://www.wallstreet-online.de/ws/community/board/thread.ph…

4.Teil: http://www.wallstreet-online.de/ws/community/board/thread.ph…

MFG sevim

[sevim]

Hallo nochmal,

HongKong liegt wieder über 15.000 Punkte. Und Cash hat trotz geringem Umsatz trotzdem in Plus gedreht. Aber wir wissen ja, daß Cash etwas träge reagiert, deshalb erwarte ich bei anhaltenden Kurssteigerungen des HangSeng, daß Cash sich auf 0.06-0.07 Euro bis zum Ende der nächsten Woche erholen wird. Wer Geld übrig hat, kann hier locker 20%-40% in 10 Tagen machen.

____________________________________________________________Market Focus
Stocks rally over strong overseas sentiment
(06/12 p.m.) Rallies by the Hong Kong stocks filled the market today following the strong gains in the overnight U.S. market. The Nasdaq Composite Index soared 10.5%, the largest-ever gain after Federal Reserve Chairman, Alan Greenspan turned on a green light for the central bank to be prepared to cut interest rates. The Florida court decision closing to conclude George W. Bush as the winner of the presidential election also prompted a jump in the stocks.

The Hang Seng Index opened up 341.33 points at 14,915.54 points, and widened the gain to over 500 points and never looked back. It managed to gain a high of 605.06 points to 15,178.27. The Index closed up 525.74 points, or 3.61% to 15,098.95 Gains were supported by the rate-sensitive bank and property plays, followed by telecom stocks.

The heavy buying today contributed a relatively active turnover of HK$14.42 billion.

HSBC (0005) surged HK$4 to HK$113.5, Hang Seng Bank (0011) rose 2.7% to HK$95, while Dao Heng Bank (0223) jumped 5% to HK$42.

Property plays rose across the board, with the HSI Properties Index surging 1,190.61 points on the eve of the two sites up for sale in the government land auction on Thursday and the Sai Wan Ho site to be tendered on Friday. The leading frontrunners were SHK PPT (0016), which surged HK$6 to HK$70.75 after the company said it has filed a proposal to the government for enlarging the development of its low-rise residential project in Sai Kung from 2,200 units to 4,200 units, Cheung Kong (0001) rising HK$6.25 to HK$96.5 and New World Development (0017), jumping 6.62% to HK$3.625.

Telecom stocks didn`t miss out on the positive sentiment set forth in the market today, it managed to rise to the plus column after a negative trading day clouded the sector yesterday. PCCW (0008) jumped 6.8% to HK$5.5 and China Mobile (0941) rose 2.18% to K$46.9. Hutchison (0013) surged 4.56% to HK$97.5 with news of the company closing on its acquisition deal of buying more than a 20% stake in Telekom Malaysia Bhd unit, Telekom Cellular Sdn Bhd.

Red chips, China Enterprise stocks trailed a similar trade. HSCCI and HSCEI rose 3.92% and 1.37%, respectively. Legend Holdings (0922) rose 4.24% to HK$6.15. Meanwhile, oil sensitive stocks such as Sinopec (0386) and PetroChina (0857) traded mixed, up 2.8% and down 1.41%, respectively, on news of an oil price decrease in the US markets.

The second broad traded mixed despite an exceptional performance by the overnight US Nasdaq on Tuesday. The GE Index rose 12.41 points, or 3.81% to 337.72 with hongkong.com (8006) surging 11.11% to HK$0.5. tom.com (8001) rose 8.33% to HK$2.925 and SUNeVision (8008) jumped 4.62% to HK$3.4.


--------------------------------------------------------------------------------

CASH on-line Ltd.
All rights reserved.
____________________________________________________________

MFG sevim

[sevim]

Hallo Casher,

hier drei Kommentare von Cashon-line zu gestern und heute.
____________________________________________________________

Market Review and Outlook

06 December, 2000


US stocks ended lower last week, dragged by presidential election jitters, along with recent data showing signs of slowing economy. The Dow industrials finished the week down 97 points at 10,373. The tech issues were the hardest hit given lingering profit warnings. The tech-rich Nasdaq composite slipped to its low in fifteen months, and finished the week down 259 points at 2,645. The Hong Kong market staged a snap-back rally on Friday, reversing its downward trend last week. Hit by the slump of overseas bourses, as well as the weakened sentiment due to puzzling policies on mainland wireless and cable services, the HSI fell to below 14,000 level, while the China heavyweights such as China Mobile (0941), China Unicom (0762) and CITIC Pacific all dropped 11% to 16% on one trading day. The clarification by Head of Ministry of Information Industry regarding the wireless tariff policies erased the investors` worries and drove the market up. The short covering on China Mobile led the HSI finished at 14,441 Friday, up 64.5 points over the week. Average daily turnover increased 16.7% to $9.77bn. China-related shares, particularly petrochemical and airlines counters declined. The heavyweight PetroChina (0857) led the H-share index fell 6.7%, while red-chip index lost 3.0%. Following the clarification on the mainland wireless policies, the HSI is expected spiraling up to resistance at 15,000. Investors should closely watch the land auction results on Thursday, which would give more clues about the property market outlook. On the other hand, the slowing economy in US should pave the way for interest rate cut next year, we thus recommend rate-sensitive banking shares. We also prefer oversold China petrochemical and WTO conceptual plays on the PRC`s imminent entry to the WTO.



____________________________________________________________
Market Commentary

07 December, 2000


US stocks fell on profit-taking in technology shares. Personal computer maker Apple Computer warned that it might report a loss in the current quarter and this caused its share price to lose nearly 16%. The plunge of Apple dragged other computer hardware stocks down by 10%, being the lowest closing level since May 1999. The Nasdaq composite followed suit and dropped 93 points, or 3.2%, to 2,796. Profit warning of Bank of America also fueled the weakness in US stocks. The Dow industrials plummeted 234 points, or 2.2%, to 10,664. Oil price recovered in late trade, with crude oil price for January delivery rebounded from a low of US$28.25 per barrel to US$29.85 at close. US treasury rose for the second day and the 30-year bond yield fell to a 19-month low of 5.52%.

The Hang Seng Index finished 526 points, or 3.6%, up at 15,099 after hitting a high of 15,178 on increased turnover of $14.4 billion. December futures surged to 15,209, a rise of 584 points and 110 points higher than the cash market. Suggested by the speech of the Fed¡¦s Greenspan, interest rates are expected to trend lower. The news triggered buying interest in rate sensitive issues like banks and property. Among the blue chips, Sun Hung Kai Property (0016) had the biggest gain of nearly 10%. Kerry Property (068) was the best second-line property performer. Property agent Midland Realty (1200) also staged a double-digit rise. Banking stocks also rallied. Dah Sing (0440) and Dao Heng (0223) were the out-performers, with Dao Heng rising to a 52-weak high. Heavyweights HSBC (0005) and Hang Seng (0011) rose 3.7% and 2.7% respectively. In the tech sector, i-cable (1097) posted the largest gain of more than 20%. The GEM index added 3.8% to 337. While red chip index advanced 3.9%, H share index edged 1.4% up.

On today¡¦s land auction, market focus will be on the west Kowloon site with gross floor area of 1.63 million square feet. It is estimated that hammer price will be fallen between $2.5 billion to $3.3 billion, or $1,500 to $2,000 psf AV. The Sai Wan Ho site, slated to bid on Friday, is expected to sell at $2,000 to $2,300 psf for a total of $2.6 billion to $3.0 billion. Despite the expected fall in interest rates, we expect the sites¡¦ bidding prices would only match the market estimates as property developers remain cautious on the property market. In the wake of previous gains and weakness in the US bourse, we expect the Hang Seng Index to test support level at 14,800, with near term resistance at 15,200 (50-day moving average). We however anticipate the index to rise to 16,000 at year-end after consolidation.


____________________________________________________________

Market Focus
Stocks slip on disappointing land auction
(07/12 p.m.) Hong Kong stocks fell slightly today, after a surge of over 500 points on the main board yesterday. A fall in the market were contributed by bank and property plays ahead of the anticipated government land auction but it rebounded slightly after land auction results were at the lower end of market expectations. Rate-sensitive stocks were mixed after news of an interest rate cut early next year was announced by chairman of the US Federal Reserve Alan Greenspan, and profit warnings from Apple Computer and Bank of America pulled the US market lower, leaving the local market lingering.

The Hang Seng Index opened down 116.03 and extended the loss to as much as 233.47 and closed midday down 174.44 points, or 1.16% to 14,924.51. It traded in a relatively narrow range, and was able to reverse and close on the higher end of trade, down 87.43 points, or 0.58% to 15,011.52, after the results of the land auction late in the afternoon. Turnover was relatively thin at 9.472 billion.

Bank and property plays pushed up on the weighted Hang Seng. HSBC (0005) rose HK$0.5 to HK$114, while Dao Heng Bank (0223) jumped 2.14% to HK$42.9. The HSI-Properties rose 35.94 points from a drop to the minus column of more than 200 points, boosted by the sale of the two site offered in the land auction. The results of the land auction by the government were at the lower end of market expectations. The two sites offered were the West Kowloon site and Sai Kung site. The West Kowloon site were sold at the base price of HK$2.58 billion by Hang Lung Development Ltd (0010)`s unit, Amoy Properties (0101). Amoy rose 4.61% to HK$7.95 as the results and plans to invest HK$5 billion to develop the property site. Meanwhile, the Sai Kung site was bought up by Far East Consortium International (0035) for HK$21 million, on a base price of HK$20 million. The company plans to spend HK$30 million to HK$40 million for developing seven to eight luxury houses.

Telecom plays remain weak, PCCW (0008) was down 1.82% to HK$5.4, with the company`s backbone joint venture with Telstra Corp likely to issue bonds to raise funds a year after it is established. China Mobile (0941) fell 1.92% to HK$46 and Hutchison (0013) dipped 1.03% to HK$96.5, as the company completes its final stages of talks to buy more than 20% of Telekom Malaysia Bhd.`s cellular unit.

Red-chips and state-owned enterprise stocks were mixed amid a directionless trade on the main board. The HSCCI fell 0.68%, while the HSCEI dropped 7.88%. Legend Holdings (0992) fell 4.88% to HK$5.85. While oil-sensitive stocks, Sinopec (0386) fell 2.72% to HK$1.43 and PetroChina (0857) dipped 2.14% to HK$1.37.

The second board performed mixed with the dampen sentiment of the US overnight Nasdaq. The GE Index dropped 4.12 points, or 1.22%. tom.com (8001) fell 5.13% to HK$2.775, as the company is being sued by bookoo.com.cn, an online bookstore for alleged infringement of proprietary rights.


--------------------------------------------------------------------------------

CASH on-line Ltd.
All rights reserved.
____________________________________________________________


Wie man sieht, ist die Stimme von Cashon-line sehr gefragt in HongKong.


MFG sevim

[sevim]

Hallo nochmal,

anläßlich des bevorstehenden Cashon-line IPO`s, hier ein heutiges Beispiel einer GEM-IPO:
____________________________________________________________Trasy Gold Up as Much as 52% in GEM Debut
Dec 07, 2000 - 10:15:19 HKT
Quamnet News Service
Trasy Gold Ex Ltd. (8063), which runs a proprietary Internet-based electronic system for trading of precious metals, jumped as much as 52.4 percent in its debut on the Growth Enterprise Market.

At 10:08 a.m. Hong Kong time, the stock was quoted at 24 HK cents, after trading as high as 32 HK cents and as low as 23.8 HK cents, with HK$5.2 million worth of shares changing hands.

The company placed 242.8 million shares at 21 HK cents each to professional, institutional and other investors. The offer was 0.26 times oversubscribed.

The company, a unit of RNA Holdings Ltd. (0501), will have a public float of 20.35 percent of the enlarged issued share capital following the placing.

Trasy also granted options to Li Ka Shing Foundations and Hutchison International allowing each of them to buy up to 166.6 million shares, or a 7 percent stake, in Trasy Gold at 18.9 HK cents a share. Chow Tai Fook, which controls New World Development Co. (0017), has an option to buy a maximum of 5 percent of the company. Gold Stream Resources Ltd., a wholly-owned subsidiary of Cheung Kong, will also have an option to buy new shares of the company after the listing.
____________________________________________________________

MFG sevim

[sevim]

Hallo zum dritten,

noch ein Kommentar zur GEM zum bevorstehenden Geburtstag:
____________________________________________________________ Stephen Vines is a well-known broadcaster journalist and writer living in Hong Kong
Date : NOV 21, 2000
--------------------------------------------------------------------------------

The infant GEM has little to celebrate on its first birthday
Lo Ka-shui, the chairman of the Growth Enterprise Market (GEM) listings committee, has given a flurry of interviews to coincide with the market`s first anniversary. He claims that it has been a great success and no one should worry about the fact that prices on the GEM have slipped so much.

Mr Lo appears not to understand what might be described as market fundamentals. Were this the case he would acknowledge that the price of shares is essentially a reflection of confidence in the market. A market that has lost some two thirds of its value since the GEM Index was launched last March, cannot seriously be described as a market which holds investor`s confidence.

Apologists for GEM, a diminishing band of people, say that the fall in the GEM is nothing more than a reflection of the global sell down of hi-tech stocks. This is simply not true. The collapse of GEM stock prices is far greater than that of comparable markets. One of the biggest falls this year has been registered by Nasdaq but it has seen prices halved, which is bad enough but not as bad as the performance of GEM.
Moreover Nasdaq stocks began the year at record highs, whereas almost all GEM stocks quickly fell back from their issue price. Indeed only 13 of the 49 companies listed on GEM have managed to trade above their issue price.

Closer to home comparable markets have also performed poorly but not half as bad as GEM. Singapore`s Sesdaq is down some 50 per cent on the year. In Taiwan, the Taisdaq has lost just over a third of its value but in Korea the Kosdaq is actually trading a shade above the level it enjoyed at the beginning of the year.

Therefore it seems far more accurate to say that GEM has been affected by the negative sentiment towards hi-tech stocks but there must also be something particular about this market which has caused it to fall far quicker than its counterparts.

That something particular almost certainly lies in the nature of the companies which have secured a listing. Mr Lo would have us believe that GEM`s success can best be measured by how much capital it has raised.

This figure tops US$1.83 billion, which is almost triple the amount raised by Taiwan`s Taisdaq and some nineteen times more than the amount raised by Singapore`s Sesdaq. However it is less than the US$2,031 billion raised by the longer established Korean Kosdaq.

In these terms Hong Kong can be judged as having done rather well. Lamentably closer examination does not bear out this assumption. It certainly does not bear out Mr Lo`s claim that it is providing capital for young companies who would otherwise be starved of funds. Many of the biggest GEM companies are in fact spin offs from very large companies such as Hutchison Whampoa, the New World group and the Henderson group. They are hardly hungry for funds but appear keen to spread the risks of launching new hi-tech ventures.

Other GEM listed companies, such as Town Health, Stareast and 36.com are really little more than concept stocks which should never have been allowed to come to the market with so little prospect of making money. The money made by many GEM companies has been solely derived from listing proceeds. This is not what capital markets are supposed to do.

However Mr Lo and his associates believe that the main object is to push as many companies as possible onto the GEM and let investors decide whether they want to take the risk. Even though the push for growth has been frenetic the market has completely failed to meet its target of 100 listings by the year end. It will be lucky to have achieved half that number of IPOs.

Nor is GEM succeeding in its grandiose objective of becoming the premier regional centre for hi-tech listings. Aside from a clutch of mainland listings, GEM has no more than a handful of listed companies from other parts of the Asian region. And it looks as though future mainland listings will be curtailed by Chinese plans to transform the
Shenzhen exchange into a hi-tech listings centre.

Last but not least we come to the shabby way that the GEM authorities have granted exemptions to its listing rules to a number of companies, creating an impression that it has created a far from level playing field. A new exchange needs to establish credibility. This cannot be done when it starts signaling that some companies are more equal than others.

Establishing an exchange attractive to investors means creating an exchange which provides money making opportunities. This is the best way to establish credibility. In these terms GEM has been a dismal failure.

And this explains why both investors and potential candidates for listings are staying away.

I suppose GEM can put things right in the end, it is already reviewing its listings rules, but it has got off to such a bad start that it will be a tough job. The job will certainly not be made any easier by starting from a point of denial as to the grim state of things as they are at present. (ENDS)

____________________________________________________________

MFG sevim

[sevim]

Hallo Casher,

Related Quotes
1049 CELESTIAL ASIA
0.335 0




09:56 08-DEC-2000
Celestial Asia (1049-HK) to suspend trading

Trading of shares in Celestial Asia Securities Holdings Ltd will be suspended with effect from 10:00 am today pending the release of an announcement related to share placment by the company

____________________________________________________________

MFG sevim

[Duplex]

Was soll das denn heißen???

[Silurus]

UP

[CashCool]

Hallo Allerseits (aber hauptsächlich hallo Sevim),

als ich gerade in mein Depot schaute, bemerkte ich das meine Lieblingsaktie (keine Ahnung warum) mit totalverlust eingebucht ist. Ist CASH Heute ausgesetzt oder was ist da am laufen. Für Infos bin ich immer dankbar.

Gruß Micha.

PS: Ich bin für CA$H weiterhin optimistisch.

[Duplex]

09:16 11-DEC-2000
Celestial Asia (1049-HK) places 479m shares
at $0.30 each

Celestial Asia Securities Holdings Ltd Cash said that
its major shareholder Cash Guardian Ltd will top-up
479 million shares in its placing to 19 independent
investors at $0.30 each to raise $143 million, representing a discount of 10.4 pct off the
closing price prior to trading suspension. The net proceeds will be used as general working
capital.

Cash Guardian Ltd will also subscribe 479 million new shares at $0.30 each, accounting
for about 8.9 pct of the enlarged issued share capital of the company.

Upon the placing and subscription of shares, Cash Guardian Ltd would own 52.6 pct to
the enlarged issued share capital of the company.

[sevim]

Hallo Casher,


newsnewsnewsnewsnewsnewsnewsnewsnewsnewsnewsnewsnewsnewsnews

____________________________________________________________CASH on-line to start trading on GEM on Dec 15
12/12/2000 5:58:49 PM
Celestial Asia Securities Holdings Ltd (1049) said its Internet arm CASH on-line will start trading on the GEM on December 15.

Celestial shareholders are to receive one CASH on-line share for every 10 shares held. The company said it plans to buy another 8.69% of CASH on-line for HK$227.89 million from Cash Guardian Ltd - a major shareholder in the company, to increasing its stake from 41.08%.

Meanwhile, PCCW (0008) is expected to exercise an option to increase its stake from 4% to 6%.

____________________________________________________________


newsnewsnewsnewsnewsnewsnewsnewsnewsnewsnewsnewsnewsnewsnews

MFG sevim

[sevim]

Hallo nochmal,

endlich also ein festes Datum für die IPO. Der Umsatz bei Cash liegt auch wieder bei 3 MIO € und der Kurs über 0.052€(wohlgemerkt in HongKong).

Also wieder das gleiche Spiel, wer zuerst kauft, der bekommt als Bonus 20 % obendrauf als Kursgewinn.

Was die neuen Aktien angeht, habe ich noch keine fundierte Meinung dazu, aber anscheinend rüstet sich Cash auf einen Expansionskurs aus oder das Geld ist einfach knapp geworden, weil die Onlinebrokingmargen gefallen sind. Ich werde am Wochenende zusammen mit einem sprachlich begabten Freund eine E-Mail mit einem Fragenkatalog verfassen und diese dann Rosa Li (Pressechefin) schicken. Sie hat mir bis jetzt immer geantwortet.

Wer also Fragen bezüglich Cash hat, kann Sie in diesem Thread veröffentlichen, damit ich sie berücksichtigen kann.

MFG sevim

[sevim]

Hallo zum dritten,

hier die gleiche news aus dem Quamnet.com

____________________________________________________________CASH Online to Debut on GEM on Dec. 15
Dec 12, 2000 - 17:41:45 HKT
Quamnet News Service
Celestial Asia Securities Holdings Ltd. (1049), a securities trading firm, said its Internet arm CASH Online will begin trading on the Growth Enterprise Market on Dec. 15.

The company will disclose more details at a news conference tomorrow.

Celestial shareholders are expected to receive one CASH Online share for every 10 shares held. Celestial said on Sept. 5 that it will buy another 8.69 percent of CASH Online for HK$277.89 million from major shareholder Cash Guardian Ltd. (CGL), lifting its stake from 41.08 percent. Pacific Century CyberWorks (0008) is also expected to exercise an option to increase its stake in the online stock trading firm to 6 percent from 4 percent.

BNP Paribas Peregrine is handling the issue.

Celestial Asia shares ended Tuesday down 4.4 percent at 35.5 HK cents
____________________________________________________________

MFG sevim

[Silurus]

Hallo Cash`ler !

Morgen ist es soweit $$$
Ich brauche nur noch das Kürzel für Cashon-line.
Wer kann helfen ?

MfG
Silurus

[Duplex]

Moin Casher!

Jawohl morgen!!! Gestern 25 %, heute denke ich mal auch.....
CashOnline WKN? Am besten mal am Fr. ins Depot schauen!

Gruß
Duplex

[sevim]

Hallo Casher,

Cashon-line hat miese Zahlen vorgelegt, irgendwie kein guter Zeitpunkt für eine IPO.
____________________________________________________________IPO Analysis: CASH on-line (8122)
Dec 14, 2000 - 12:53:54 HKT
Quamnet News Service
The CASH (HKSE: 1049) online-brokerage spin-off is to set to list on the GEM board by way of introduction on 15 December, 2000. Although there are several financial services companies providing on-line brokerage services, CASH on-line (COL) will be the first online broker to list in Hong Kong.

The share price, quoted from the HK-iMail, will be decided by investors tomorrow, but market sources said the stock would trade higher than HK$0.165 -- its combined net asset value per share as at May 31, 2000. This is a more reasonable price compared to the price when the company`s CEO Mr. Khoo and chairman of the company and CASH, Bankee Kwan Pak-hoo, who sold their combined 8.69% holding in COL to parent CASH in September for a consideration of $277.9 million. At that consideration, the firm was valued at ridiculous $3.2 billion, or $1.6 per share.

The existing operations of COL consist of development and operation of an electronic trading platform and a financial information website; www.e-finance.com.hk.
The operating history of the company was not satisfactory, and a net loss of $70.8 million on turnover of $24.2 million for the five months ended 31 May, 2000 was recorded, compared to a net loss of $16.7 million on turnover of $21.2 million for the year ended 31 December, 1999.

The prospectus stated: "It is possible that the group`s operating losses may increase in the future and that the group may not be able to attain profitability in the foreseeable future. There can be no assurance that there will be any attainable profit or positive cash flow from the group`s operations." The net loss above was only a 5-month figure, so the company may incur further losses for the full year. As a result the operations appear to be unrealistic in supporting the earlier $3.2 billion valuation.

The company claimed that the loss incurred in the 5-month period was mainly due to an increase in administrative expenses from $24.6 million in full year 1999 to the 5-month period of $75.9 million. Such expenses include operating and capital expenditures, increased marketing and branding costs, and additional personnel hires.

Turnover mainly comes from the securities trading service income through the Internet (In-Trade), mobile (SmarTrade) and PDAs (Mi-Trade) under the CASH group. The company will share 80% of the entire commissions in relation to the online securities and commodities trading services. For the five months ended 31 May, 2000, advertising income from www.e-finance.com.hk accounted for only 3.6% of the group`s turnover of $880,000.

On-line securities trading business is quite competitive. Apart from the brand name, we believe that commission fees is of paramount importance for many investors in choosing a service provider. One of their competitors is Tai Fook (HKSE: 665), which is also a financial brokerage company. For Internet trading, both companies will charge a commission of 0.25%, but the minimum charge of Tai Fook is only $75 compared to $100 for CASH.

After listing, there will be 2,015.2 million shares in issue. Celestial Investment Group Limited, a wholly-owned subsidiary of CASH, holds 49.77% of the company. Hikari (HKSE: 0603), Hampstead (wholly-owned by Ms. Nina Kung), and CyberWorks Ventures respectively hold 18.56%, 7% and 4.37% interests of the company.

The company has $270 million bank balances, or $0.134 per share. In view of the unforeseeable profit, and the competitive and cyclical natures of the business, this company should not be a buy no matter the share price.

____________________________________________________________

CASH on-line Posted HK$78 Mln Net Loss for Jan.-May
Dec 13, 2000 - 19:38:09 HKT
Quamnet News Service
CASH on-line Ltd. (8122), a spin-off from Celestial Asia Securities Holdings Ltd. (1049), recorded a net loss of HK$78 million in the first five months of this year, widened from HK$17 million during the whole of 1999, said Bankee Kwan, its chairman.

The increase in net loss was due to its heavy expenses on advertising, totaling HK$55.34 million in the five-month period through May. But Kwan said such expenses are expected to be reduced in the second half of 2000.

Revenue for the five-month period through May was HK$24.2 million, already 14 percent higher than the whole of 1999, he said.

CASH on-line is currently holding HK$270 million in cash and it is expected to receive additional HK$89 million as working capital in the next two years, said Kwan.

The website handles an average of HK$58 million worth of transactions a day, 57 percent higher than a year ago.

The company plans to launch stock trading services via television, said Felix Miao, its director. It is in discussion with pay-TV operators for related cooperation. He said CASH on-line is one of the fourth largest online brokers in Hong Kong,which together account for 83 percent of total stock trades done on-line.

Following the listing, parent CASH will hold 49.77 percent of CASH on-line while Pacific Century CyberWorks Ltd. (0008) will hold an indirect 4.37 percent.

Japan`s Hikari Tsushin Inc., the parent of Hikari Tsushin International Ltd. (0603), will hold 18.56 percent, and Nina Kung, the largest shareholder of Chinachem Group, 7 percent.

Kwan said PCCW has no intention to exercise its option to acquire more shares in CASH on-line.

BNP Paribas Peregrine Capital Ltd. is the sponsor and Celestial Capital Ltd. is the co-sponsor for the listing. It has scheduled to commence trading on the Growth Enterprise Market on Dec. 15.

____________________________________________________________

Bin wirklich mal gespannt, ob sich diese negativen Berichte krass auswirken werden. Bin selber ein wenig düpiert.


MFG sevim

[sevim]

Hallo Casher,

CASH on-line Quoted at 36 HK Cents In GEM Debut
Dec 15, 2000 - 10:26:51 HKT
Quamnet News Service
CASH on-line Ltd. (8122), a spin-off from Celestial Asia Securities Holdings Ltd. (1049), was trading as high as 55 HK cents in its debut on the Growth Enterprise Market.

At 10:22 a.m. Hong Kong time, the stock was quoted at 36 HK cents, off a low of 34 HK cents, with HK$6.8 million shares changing hands.

CASH on-line listed on GEM by way of introduction. Following the listing, parent CASH will hold 49.77 percent of CASH on-line while Pacific Century CyberWorks Ltd. (0008) will hold an indirect 4.37 percent.

Japan`s Hikari Tsushin Inc., the parent of Hikari Tsushin International Ltd. (0603), will hold 18.56 percent, and Nina Kung, the largest shareholder of Chinachem Group, 7 percent.

BNP Paribas Peregrine Capital Ltd. was the sponsor and Celestial Capital Ltd. was the co-sponsor for the listing.
____________________________________________________________


MFG sevim

[FXX]

Habe heute in meinem Depot unter WP-Nr 552615 Cash Online Aktien gutgeschieben erhalten,finde allerdings keine aktuellen Kurse in Europa. Unter 8122 in Hongkong gibt es Kurse. Ebenfalls gibt es keine Kurse zur WP-Nr 501429 (Cash- Optionsschein), den on Hongkong unter der Nummer 0284 finden kann. Wer kann mir darüber Auskunft geben, wo man zu Kursen in Europa kommt.

[sevim]

Hallo Casher,

sieht echt nicht gut aus, die IPO. Zuerst furios gestartet und dann jäh abgestürzt. Was soll man machen, bei den miesen Zahlen, die ein Tag vorher bekannt wurden. Cash scheint auch davon betroffen zu sein, als größter Aktionär.
Wenn jemand den Kurs in HongKong anschauen will, geht zu
www.finet.com.hk und gibt die Wertpapiernummer 8122 ein. Oder alternativ bei www.quamnet.com.
Kein Wunder, daß PCCW die Option zum Nachkauf nicht genutzt hat.
Irgendwo steckt leider der Wurm drin. Ich denke, daß ebenso wie ich viele die Phase aussitzen werden. Es kommen bestimmt wieder gute Zeiten. Einige haben heute verkauft und den Kurs auf 0.03 € gedrückt, obwohl HongKong bei 0.04 € liegt. Ich hoffe, daß der Abwärtstrend morgen nicht fortgesetzt wird.
____________________________________________________________
CASH On-line Retreats 21% on Day 2 of Trading
Dec 18, 2000 - 11:08:07 HKT
Quamnet News Service
CASH On-line Ltd. (8122), an online broker spun-off from Celestial Asia Securities Holdings Ltd. (1049), fell as much 29 percent after ending its debut on the Growth Enterprise Market at 21.9 HK cents last Friday.

At 11.02 a.m. Hong Kong time, the stock was down 21 percent at 17.3 HK cents. Turnover was HK$1.27 million, versus last Friday`s full-day turnover of HK$53.95 million for the stock.

CASH on-line listed on GEM by way of introduction. Following the listing, parent CASH holds 49.77 percent of CASH on-line while Pacific Century CyberWorks Ltd. (0008) holds an indirect 4.37 percent.

Japan`s Hikari Tsushin Inc., the parent of Hikari Tsushin International Ltd. (0603), holds 18.56 percent, and Nina Kung, the largest shareholder of Chinachem Group, 7 percent.
____________________________________________________________

MFG eure mitleidende sevim

[sevim]

Hallo Casher,

habe den ersten Frust über Cashon-line schon runtergeschluckt und präsentiere euch einen Artikel über die Zukunft Chinas aus dem Ragingbull
____________________________________________________________China to meet WTO challenge with more efficient production: Nobel Prize laureate
China will have to effectively improve its productivity in order to meet the challenge brought by entry into the World Trade Organization, said a Nobel Prize laureate Monday in Beijing.

Robert Mundell, a Nobel Prize winner for economics in 1999, was granted an honorary Ph.D. in economics Monday by the Beijing-based People`s University of China.

After elaborating on the general trends of the world economy, Mundell pointed out that the new economy and information revolution have cut the cost of spreading information, and largely improved the efficiency of economic activities of businesses, families and the government, which promoted the country`s economy moving toward the integration of globalization, he added.

China will acquire technology and more investment once it joins the WTO, said Mundell.

As a result of being open to the rest of the world, the competition will become even more intense.

Chinese businesses should quickly access to advanced technology, lower production costs, and improve their productivity to meet the challenge.

The Nobel Prize laureate hailed China`s stable monetary policy as saying that a fluctuating exchange rate, which will have strong impact on overseas investment, is harmful to the economic development.

He believed that China will become more influential through its economic modernization. It took China only two decades to become a major component of global trade and finance.

Mundell, a renowned expert on monetary theory, said that the launch of the Euro altered the international monetary system as well as macro-economic policies.

He suggested that in the future China should unite with other Asian countries to have a bigger say in the world`s monetary system and to upgrade the regional economic power rapidly.

Mundell is known as "the father of Euro" for he has been promoting a unified currency in Europe over the past 30 years.

____________________________________________________________

MFG sevim

[sevim]

Hallo Casher,

WTO-Verhandlungen sollen um den 20.Januar endlich wieder fortgesetzt und zum Schluß gebracht werden. Würde dann vielleicht einen Schub Richtung China bringen.
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

China hopes to end WTO talks in Jan; sees entry within months
12/21/2000 5:08:46 PM
BEIJING (AFX-ASIA) - China hopes to conclude negotiations to enter the World Trade Organization by the end of January and formally enter the global trade body within months, assistant trade minister and chief WTO negotiator Long Yongtu said.

Long said the partners in China`s WTO accession talks have the "political will" to resolve the issue, adding that the next round of negotiations will be "very arduous".

Talks over China`s WTO entry will resume January 10 in Geneva. Long said he is hopeful that they can be concluded by January 20.

"If we can solve all the practical issues in the talks, and we still have a lot of technical work to do ... then it will take a couple of months to finish this," he said.

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

MFG sevim

[MVeilchen]

Hallo Cashier,
auf welches Kursziel wartet Ihr 1 HK-Dollar oder 1 US-Dollar. Hab auch einige CASH-Stocks und werde jetzt nochmal nachkaufen.

Aber meiner Meinung nach ist das kein kurzfristiges Investment. Das verlangt einen langen Atem.
Gruß MVeilchen

[sevim]

Hallo Casher,

ich wünsche allen meinen lieben Mitcashern ein freues neues Jahr und das wir im nächsten Jahr wieder steigende Kurse sehen.

MFG sevim

[sevim]

Hallo Casher,

seid Ihr alle wieder wohlauf von den Feierlichkeiten? Ich bin ehrlich gesagt ein wenig geschafft, weil ich gestern noch die Geburtstagsparty meines Milleniums-Sohnes gefeiert hatte, der gleichzeitig mein größter Glücksfall im Jahr 2000 gewesen ist.
Geld haben wir zwar fast alle verloren, aber ich hoffe, daß wir wenigstens alle gesund geblieben sind.

Die Aussichten für das Jahr 2001 sind gemischt. Einerseits steht uns die US-Konjunktur-Landung ins Haus und andererseits wird vom Übergang zum Zukunftsmarkt China gesprochen. Aber der chinesische Markt kann den drohenden Verfall der US-Wirtschaft bei weitem nicht kompensieren. Japans Wirtschaft hat ebenfalls Probleme mit dem Wachstum, weil die Staatsverschuldung zu hoch ist. Und Europa hängt wie immer am Zipfel von den USA, statt mal den Vorreiter zu spielen. Sobald nämlich der Euro steigt, sinken die Gewinne bei den Exporten, was einen erheblichen Anteil der europäischen Wirtschaft ausmacht. Es wird an den Börsen zwar eine leichte Erholung erwartet, der die Verluste des letzten Jahres jedoch nicht egalisieren werden kann.
Was sollte nun ein chinalastiger Depot Besitzer für eine Strategie verfolgen, damit wieder alles grün wird. Ich glaube, wer jetzt langsam seine Positionen durch gezielte Nachkäufe verbilligt, wird zur Mitte des Jahres wieder schwarze Zahlen vorfinden. Denn ich bezweifel, daß es nach dem uns bevorstehenden WTO-Beitritts Chinas Anfang Februar zur einer China-Hype kommen wird. Ich glaube eher, daß leidgeprüfte Anleger ihr Geld lieber in wertbeständigere Bluechips investieren werden, als in den neuen Markt China zu investieren.
Allerdings wird es trotzdem ettliche risikobereite Anleger geben, die in China ihr Glück versuchen werden. Die werden sich dann auf einzelne gepushte Werte schmeißen und der Firma zu ungesundem Wachstum verhelfen, wie vielfach am neuen Markt beobachtet werden konnte, um schließlich festzustellen, daß die Prognosen mal wieder zu hoch gegriffen waren. Also heißt die Devise auch hier, in Werte zu investieren, die kein riesiges KGV besitzen oder versuchen eines zu pushen.
Die GEM in KongKong wird eines dieser Tummelplätze werden und unsere Cashon-line ist ja nun dort ebenfalls positioniert. Es wird interessant werden, wann der Transfer von der Nasdaq an die GEM kommen wird, ich schätze so gegen April, wenn viele Anleger merken, daß an der Nasdaq nichts zu holen sein wird. Unser neuer Markt wird sicherlich auch einige Geldtransfers nach HongKong erleben, wobei in Deutschland das grenzüberschreitende Aktiengeschäft noch nicht so etabliert ist wie in den USA. Aber schließlich werden im Zuge der Internetnalisierlung (meine Wortschöpfung) auch wir deutschen Anleger auf den Geschmack kommen, internationale Depots zu eröffnen, um an die schnelle Mark zu kommen.
Womit ich den Bogen zu HongKongs Börsen spannen will, die dieses Jahr eine ehrhebliche Umsatzsteigerung erleben werden. Zumal Realtimetrading erst jetzt langsam dort zum Zuge kommt.
Diese Faktoren werden für Cash und Töchter folgenden Effekt bewirken, daß wir die Talsohle durchschreiten und zu neuen Höhen stossen werden.

MFG sevim

[sevim]

Hallo nochmal,

hier noch ein Bericht vom Hartcourtboard über China im Allgemeinen (vom lieben Hollin gepostet).

____________________________________________________________02Jan2001 SCHWEIZ: WTO-Beitritt hatKatalysatorwirkung.
Bankenreform n Exporte und der inländische Konsum haben der chinesischen Wirtschaft geholfen, das Wachstum auf 8,2% im dritten Quartal 2000 zu erhöhen. Dieses Wirtschaftswachstum ist wichtig im Zusammenhang mit den Vorbereitungen zum Beitritt Chinas zur Welthandelsorganisation (WTO).
Der WTO-Beitritt wird nicht nur den Handel und die inländischen Investitionen erhöhen, sondern die einheimische Ökonomie zu mehr Disziplin zwingen, was die chinesische Regierung allein nicht realisieren könnte. Noch wichtiger ist aber, dass die globale Wettbewerbsfähigkeit vom chinesischen Bankensystem ein schärferes und strengeres Credit Assessment verlangen wird. Der chinesische Bankensektor wird von zweifelhaften Forderungen belastet, welche durch jahrezehntelange «soft budget»-Politik verursacht wurde. Die staatlichen Banken dienen als Arme der Staatsbürokratie, welche das Geld ihrer Einleger zinslos in die verschuldeten Staatsbetriebe hineinpumpt. Es wird angenommen, dass etwa 80% aller Bankkredite an schwerfällige Staatsbetriebe vergeben wurden, um Kosten und Verluste zu decken. Die freizügigen Überweisungen von Finanzsubventionen setzen das ganze Finanzsystem in Gefahr, weil ein grosser Teil nie zurückbezahlt werden wird. Ausserdem wird der kleine, aber energische Privatsektor aus dem Kapitalmarkt verdrängt.
Wenn die Kosten und Auslagen automatisch vom Staat gedeckt werden, fehlt den Managern der Anreiz, die Staatsbetriebe in die Gewinnzone zu bringen. Überinvestition und Überkapazität sind normale Phänomene. Gefälschte und verschleierte Bilanzen zum Zweck der Steuerhinterziehung sind keine seltene Praxis. Noch problematischer ist aber die Vorsorge, die «cradle to grave»-Sozialleistungen, für den Schutz der Angestellten. Alle Staatsangestellten geniessen ein «all-in package» aus Wohnung, ärztlichen Behandlungen, Ausbildung, Pensionsvorsorge und anderen sozialen Unterstützungen, welche weit über ihren Löhnen liegen. Schätzungen haben gezeigt, dass mehr als ein Drittel der Personalkosten auf solche sozialen Pakete zurückzuführen ist. Die Finanzierung dieser Wohlfahrtskosten gewähren die Staatsbanken durch immer höhere Verschuldung. Auch in einer Wirtschaft mit einem jährlichen Wachstum von 9,5%, unterstützt durch ein erfolgreiches Geburtenkontrollprogramm, ist die unausweichliche Konsequenz die stufenweise Akkumulation von versteckten Schulden, welche sich diametral zur Wirtschaft bewegen.
Schulden-Intransparenz
Schätzungen über die chinesische Gesamtverschuldung variieren enorm. Offiziell bewegten sie sich vor zwei Jahren um etwa 20% des BSP. Experten der chinesischen Wirtschaft weisen jedoch darauf hin, dass dies im internationalen Vergleich erstaunlich tief ist. Wenn Transparenz geschaffen wird, nimmt man an, dass die Schuldenlast in den nächsten zehn Jahren bis 100% des BSP erreichen könnte. Wenn Policy-Änderungen nicht umgesetzt werden, um die negativen Seiten im Bankgeschäft, im Pensionswesen und in den Inter-Enterprise-Verbindlichkeiten unter Kontrolle zu bekommen, könnten Chinas Schulden mit alarmierender Geschwindigkeit ausser Kontrolle geraten.
Chinas Überschuldung basiert auf folgenden drei Ursachen: den notleidenden Krediten (non-performing loans) innerhalb des staatlich kontrollierten Bankensektors, Chinas umlagefinanziertem Altervorsorgesystem (unfunded pension obligations) und den Rückständen aus geschäftlicher Tätigkeit zwischen den Staatsbetrieben. Es wird angenommen, dass die notleidenden Kredite den grössten Teil der Gesamtschuldenlast ausmachen. Schätzungen gehen von bis zu etwa 40% des BSP aus. Es gibt jedoch auch Stimmen, welche behaupten, dass diese Annahmen bei weitem unter dem realen Volumen der notleidenden Kredite liegen. Dies deshalb, weil in China Kredite erst nach zwei Jahren als notleidend klassiert werden, während dies in den meisten entwickelten Ländern bereits nach 90 Tagen der Fall ist. Zweitens gewähren lokale Banken überaus grosszügig Kredite an den kommerziellen Sektor, speziell im Liegenschaftsbereich, wo der Leerwohnungsbestand konstant hoch bleibt. Bedauernswerterweise kennt niemand - nicht einmal die People`s Bank of China - das genaue Volumen der notleidenden Kredite. Das Problem besteht darin, dass der chinesische Bankensektor verhältnismässig chaotisch ist. Das Finanzsystem wird durch vier staatliche Institutionen dominiert, welche ungefähr 70% aller Vermögenswerte im Bankensektor halten. Sie haben über 143000 Filialen und beschäftigen beinahe 1,7 Millionen Personen. Die intransparenten Organisationsstrukturen verhindern einen regulären Überblick über die Verschuldungssituation.
Bankenkonsolidierung in Sicht
Um die Verschwendung von finanziellen Ressourcen zu stoppen und den Kollaps des Finanzsystems zu verhindern, müssen die Staatsbanken ihr Kreditkontrollwesen und das Risikomanagement verbessern. Die in letzter Zeit sichtbarste Verbesserung war die Etablierung der vier Vermögensverwaltungsfirmen (Asset Management Companies, AMCs). Die AMCs erwerben, managen und beseitigen notleidende Kredite durch Debt-Equity-Swaps, durch Secondary Sales oder durch direkte Liquidation. Bis Ende 1999 übernahmen die AMCs über 400 Mrd RMB notleidende Kredite, wovon ungefähr 100 Mrd RMB erfolgreich in Aktien umgewandelt wurden. Die People`s Bank of China etablierte ein ambitiöses, kurzfristiges Ziel für die AMCs von RMB, nämlich 70% der 1,2 Trillionen notleidenden Kredite einzutreiben. Nach der Rekapitalisierung und Sanierung zweifelhafter Kredite wird eine Konsolidierung unter den grossen Banken erwartet. Ausserdem werden Dutzende kleinerer Institutionen geschlossen. Die Gesamtkosten für die Rekapitalisierung des chinesischen Bankensystems wird auf etwa 90 Mrd US-Dollar geschätzt.
Reform der Bankkundenstruktur
Die Reform des chinesischen Bankensystems ist unmittelbar mit der Reform der Bankkundenstruktur verbunden. Die Hauptkunden sind die ineffizienten chinesischen Staatsbetriebe. In letzter Zeit hat China substanzielle Fortschritte gemacht, um den Einfluss der Staatsbetriebe auf die Wirtschaft zu vermindern. Gemessen am Output wurde ihr Anteil von etwa 90% des BIP Ende 1970 bis heute auf etwa 28% des BIP reduziert. Die Finanzsubventionen sind ebenfalls von 309 Mrd RMB, 4,3% des BIP Ende 1980, auf 101 Mrd RMB, 1,3% des BIP 1998, gefallen.
Um die Reform zu beschleunigen, hat die chinesische Regierung die Staatsbetriebe in drei Gruppen eingeteilt: die Hoffnungslosen, die Schlechten und die potenziellen Perlen. Realistisch eingeschätzt, werden die Hälfte in der ersten, etwa 40% in der zweiten und nur 10% in der dritten Gruppe sein. Das beabsichtigte Schicksal für die Hoffnungslosen sollte ein lenkbarer und langsamer Marktaustritt sein. Die zweifelhaften Forderungen von dieser Gruppe werden an die vier AMCs übertragen. Betriebe in der zweiten Gruppe werden an ausländische oder inländische Privatinvestoren verkauft. Die in der dritten Gruppe werden an der Börse kotiert.
Für die längerfristige Reform der Staatsbetriebe bevorzugt China eher die Privatisierung. Der Staat beabsichtigt die Mehrheitskontrolle über die Betriebe bei sich zu behalten und bietet deshalb der Öffentlichkeit nur eine Minderheitsbeteiligung an. Diese Minderheitsbeteiligungen werden als Renminbi-denominierte A-Shares strikte nur inländischen Investoren offeriert. Börsenkotierung ist eine zweckdienliche Methode, um zwei Fliegen auf einen Schlag zu treffen. Erstens, die Kotierung wird unvermeidlich das Eigenkapital der Staatsbetriebe erhöhen, somit wird der Verschuldungsgrad und das Bankenkreditrisiko reduziert. Ausserdem bringt es Geld in die Staatkasse. Zweitens schafft es Anreize für das Management, gute Arbeit zu liefern, weil sich Missmanagement in einer schlechten Aktienpreisperformance reflektieren wird.
Es gibt aber Zweifel an einer massiven Privatisierung in China. Die Gründe sind die Parteikader, welche nur schwer dazu zu bewegen sein werden, ihre Macht aufzugeben. Zweitens wurden viele Investoren in der Vergangenheit in Bezug auf die Qualität des Managements enttäuscht und haben sich ihre Finger verbrannt. Der Kapitalmarkt erfordert mehr Qualität als Quantität in Bezug auf neue Kotierungen. Um mehr potenzielle Investoren anzuziehen, muss China die erfolgversprechendsten Firmen an den Markt bringen. Noch wichtiger impliziert Privatisierung die Übertragung der Eigentumsrechte von der öffentlichen Hand in Privatbesitz. In einem System, wo dieses Recht noch nicht hinreichend definiert ist, sind Investoreninteressen substanziell gefährdet. Unter Berücksichtigung all dieser Umstände erfordern erfolgreiche Privatisierungen eine dringende Reform der gesetzlichen Rahmenbedingungen, des Kapitalmarkts und auch des Buchhaltungssystems. Eigentlich basiert eine durchgreifende Reform der Staatsbetriebe auf der Beseitigung der «soft budget»-Politik. Wenn «hard budget» eingeführt würde, könnten Manager die Geschäfte nicht mehr gegen die Gesetze der Wirtschaft führen. Wenn auch die Banken fähig wären, unter ihren Kreditnehmern auszuwählen und marktgerechte Zinsätze zu verlangen, würden die Manager schnell lernen, rational zu investieren und ihre Unternehmungen auf Rentabilität auszurichten. Wenn dem Konkursgesetz Zähne verpassst werden, können die zahlungsunfähigen Betriebe in die Liquidation gezwungen werden und Missmanagement wäre dem Untergang geweiht. Erfreulicherweise hat China diesen Ansatz bei «township and village enterprises» (TVEs) bereits erfolgreich eingeführt. Die TVEs sind im kollektiven Besitz von Angestellten und Gemeinschaften. Viele TVEs sind eigentlich private Unternehmungen, aber verkleiden sich als Kollektive. Schon lange nehmen sie Kredite zu Marktbedingungen auf. Es gibt oft Konkurse, aber die Folge dieser Struktur ist, dass viele TVEs erstklassige, gut verwaltete Unternehmungen sind.
Das Pensionssystem ist reformbedürftig
Die Reform des Sozialversicherungssystems hat grosse Bedeutung für die Restrukturierung des Bankensystems. Gegenwärtig wird das Mass der Verbindlichkeit für Chinas Sozialversicherung zwischen 50% bis 150% des BIP geschätzt. Analysen des demografischen Trends in China sagen einen Alptraum voraus, ausgelöst durch das «4-2-1»-Syndrom. Dies bedeutet, dass innerhalb von 15 bis 20 Jahren Millionen Individuen (1) mit der sozialen Unterstützung für (2) Eltern und (4) Grosseltern belastet werden. Mit anderen Worten, Ressourcen, welche für wachstumsgenerierende Aktivitäten verwendet werden könnten, müssen für die Altersvorsorge genutzt werden. Dies führt zu einer allmählichen Verlangsamung der Ersparnisse, Investitionen und des Wachstums. Das ist der eigentliche Grund, den die meisten China-Analytiker vorbringen, dass nämlich die Regierung keine andere Wahl hat, als ihr Geld via Kapitalmarkt, insbesondere via Aktienmarkt, zu beschaffen. Dies bedeutet nicht nur neue Kotierungen an der Börse, sondern auch eine Verminderung der heutigen Beteiligungen der Regierung an den bereits kotierten Unternehmungen. Im Oktober 1999 hat die Regierung ihre Absicht angekündigt, ihre Beteiligung von 62% bis auf 51%, in Form einer schleichenden Privatisierung zu reduzieren. Zusätzlich ermutigt die Regierung die angehende Lebensversicherungs-und Pensionsindustrie den Staatsbetrieben gewisse Erleichterungen zu geben, aber Fortschritte sind erst langsam zu beobachten.

The Emerging Capital Markets in China

China hat zwei wichtige Wertpapierbörsen: The Shanghai Stock Exchange (SHSE) und The Shenzhen Stock Exchange (SZSE). Diese zwei Börsen sind unter der Aufsicht der China Securities Regulatory Commission (CSRC), welche im Oktober 1992 errichtet wurde. Im November 1998 übernahm die CSRC die Aufsichtsaufgabe über den Wertpapiermarkt von der People`s Bank of China.
Die chinesischen Unternehmungen bieten drei Aktienkategorien an: A-Aktien, B-Aktien und H-Aktien. Die A-Aktien sind Renminbi-denominierte Beteiligungswertpapiere und sind strikt für inländische Investoren reserviert. Ausländische Investoren dürfen in B-Aktien investieren. Die B-Aktien sind auch als Renminbi Special Shares (RSS) bekannt. Diese tragen einen Renminbi-denominierten Nennwert, werden aber in ausländischen Währungen gezeichnet und gehandelt. Beide Aktienkategorien werden an der SHSE und SZSE gehandelt, aber der B-Aktienmarkt ist relativ klein, verglichen mit dem A-Aktienmarkt. Die aktuelle B-Aktien-Marktkapitalisierung erreicht etwa 5 Mrd US-Dollar, was nur 1% der A-Aktien-Marktkapitalisierung ausmacht. Der Grund für dieses tiefe ausländische Interesse sind Sorgen der Investoren über die Intransparenz der kotierten Unternehmungen. Die H-Aktien sind nicht an inländischen, sondern an ausländischen Börsen wie in Hongkong, London und New York kotierte Beteiligungswertpapiere. Im Jahr 2000 sind mehr als 20 chinesische Unternehmungen an diese internationalen Börse gegangen. Ausländische Kotierungen haben mehrfache Wirkungen auf Chinas Wirtschaftsreformprozess. Die wichtigste ist der Erwerb von Erfahrungen von gut etablierten Börsen über Managementmethoden, Buchhaltungssysteme, gesetzliche und regulatorische Massnahmen und Technologien für die Durchführung einer effizienten einheimischen Börse.
Im Jahr 2001 plant China eine neue Aktienbörse für Hightech-Privatfirmen. Andere Änderungen, die eine Überlegung Wert sind: Firmen, welche rentabel arbeiten, bereits nach einem Jahr Aktien ausstellen zu lassen anstatt erst nach drei Jahren. Im Weiteren gibt es Diskussionen, ob die beiden Börsen von Shanghai und Shenzhen fusioniert werden sollen, was einen Markt mit einer Kapitalisation von 500 Mrd US-Dollar kreieren würde.

Business as Usual!

Trotz aller politischen Komplikationen blühen die wirtschaftlichen Aktivitäten zwischen China und Taiwan, als ob an der politischen Front nichts passiert wäre. Im September 2000 haben Taiwans Spitzenbankiers das Festland besucht, um die Möglichkeit der Eröffnung von Bankfilialen zu prüfen. Die taiwanesische Regierung entwarf sogar Gesetze, welche die Beschränkung liberalisieren, die bisher den taiwanesischen Banken verbot, auf dem Festland aktiv zu werden. Ausserdem gibt es Diskussionen über die Aufhebung gewisser Beschränkungen, welche es den taiwanesischen Firmen untersagte, ihre Hightech-Fabriken in China aufzubauen oder sich an chinesischen Infrastruktursprojekten zu beteiligen. Zusätzlich zur Aufhebung einiger Investitionsrestriktionen ging das taiwanesische Erziehungsministerium noch einen Schritt weiter. So erteilte es kürzlich die Bewilligung, in China Schulen einzurichten, welche die langfristigen Beziehungen mit dem Festland festigen sollen. Innerhalb von wenigen Monaten begannen taiwanesiche Geschäftskreise in Guangdong und Shanghai Schulen zu gründen, sodass in absehbarer Zeit mehr taiwanesische Auswanderer ihre Familien nach China nachziehen werden.
Der Kernpunkt ist die wirtschaftliche Verbindung zwischen den beiden Ländern. Heuzutage muss sich jeder fähige Führer auf die Wirtschaft fokussieren, und das trifft auch auf die Parteiführer in China zu. Wirtschaftlich brauchen sich China und Taiwan gegenseitig. China benötigt dringend die Kapitalinvestitionen aus Taiwan und Taiwan das günstige Arbeitsangebot und das riesige Potenzial des chinesischen Markts. In der Vergangenheit hat Taiwan mehr als 40 Mrd US-Dollar in China investiert. Das macht etwa 40% der Gesamtsauslandsinvestition der Insel aus. Solche Investitionen sind sehr wichtig für China, weil es hilft Devisen zu beschaffen und die Wirtschaftsreform voranzutreiben. China ist gegenwärtig Taiwans drittgrösster Handelspartner. China kauft 17% der taiwanesischen Exporte und liefert 4% des taiwanesischen Imports. Die beide Länder profitieren vom Handel, was indirekt zur Verbesserung der politischen Beziehung beitragen kann.
(c) Copyright 2001, Handelszeitung Fachverlag AG
Homepage Address: http://www.schweizerbank.ch.

Quelle: SCHWEIZER BANK 01/2001
____________________________________________________________

MFG sevim

[sevim]

Hallo zum dritten,

natürlich darf der market Focus auch niicht mehr fehlen, schließlich wollen wir über HongKong informiert bleiben.

____________________________________________________________Market Focus
Dark closing of HSI to a new 21-month low with a turnover of 3.1 bln
(02/01 pm) Dragged by US stocks, HK stocks started off with downside bidding, forcing the HIS to slide below the 15,000 gateway. Transaction has been thin throughout the day, creating the lowest record since March, 1993 with Blue Chips slipping along the whole line. HSI closed at 14869.94 pts, a drop of 225.59 pts or 1.49%. The total turnover for the day was a sheer 3.174 bln HKD. Spot month Futures finished at 14,847 pts with 22.94 pts below the cash market, down 313 pts and the total volume of transaction amounted to 10,810 lots.
Performance of Blue Chips had little to boast. HSBC Holdings (0005) tumbled to close at 113 HKD, down 2.5 HKD or 2.16%. Hutchison Whampoa Ltd (0013) closed at 96 HKD, down 1.25 HKD or 1.29%. Cheung Kong (0001), which had held in the morning, lost 0.25 HKD or 0.25% in the afternoon to close at 99.5 HKD. Cyberworks (008) shed 0.1 HKD or 1.98% to 4.95 HKD. The hope of rates reduction has not boosted property stocks: Sun Hung Kai (0016) went down by 1 HKD to close at 76.75.
The downward trend of US technology stocks has not stopped. The largest computer manufacturer LEGEND HOLD(0992) displayed unsatisfactory performance with its down range bigger than the market, closing in the afternoon session at 4.7 HKD, with 0.2 HKD or 4% down and was for a time even at a lowest points of 4.625 HKD. QPL INT`L(0243) and ASMP ACIFIC were down 2.23% and 1.8 % to stand at 4.375 HKD and 10.9 HKD.

Hong Kong and China Gas Company (0003) and Hong Kong Electric Holdings(0006) which created a new high last week, began to drop today, closing at 11.2 HKD and 28.2 HKD with 2.18% and 2.08 % down respectively. Buy orders for MTR Corporation(0066) came forth in the late session, pushing it to a new historical high of 13.8 HKD, closing at 13.7 HKD 0.05 HKD or 0.37 % up against the downward market.

A subsidiary of Brilliance China Automotive (1114), Shenyang announced to spend 642 mln to acquire the businesses of manufacturing family-cars and multi-use cars, displaying its ambition to expand in the family-car market in Mainland China. This is favorable to foreign-prone shareholders and boosted the stocks this morning to rise to a high of 2.225 HKD to stand at 2.15 HKD with 0.025 HKD or 1.18% up. The other state-owned stocks of automobile, QINGLING MOTORS (1122) closed at 1 HKD with a up range over 2%.

On the other hand, China Everbright Bank planned to list in A-shares market of China, pushing the stocks of its parent, China Everbright Holdings(0165), to 8.3 HKD or up 3.11%. As for Sing Tao Holdings (0233), after it has made an announcement to deny that its major shareholders intends to sell the shares to Ho Chu Kwok, the stock price continued to climb up to a high of 1.35 HKD with 0.17 HKD or 14.41% up.

HSCEI and HSCCI closed at 370.63 HKD and1066.24 HKD with 3.39 pts and 5.21 HKD down. GEM index closed at noon at 306.28 pts with 3.14 pts down.



--------------------------------------------------------------------------------

CASH on-line Ltd.
All rights reserved. Close

____________________________________________________________

MFG sevim

[sevim]

Hallo Casher,

erstmal der Market Focus:

____________________________________________________________Market Focus
A Strapless Fall of 317 in Half a Day
(03/01 noon) Dragged by the 7% drop of Nasdaq , HK stocks joined Futures to open low, the lowest being 14528.45 pts, a fall of 341 pts. Blue Chips, telecommunication stocks in particular, staged a full slide. HSI closed at noon at 14552.71 points, off 317.23pts or 2.13%. Turnover for the half day was 2.634 bln. Spot month Futures closed at 14,623 pts with 70.29 pts premium above the cash market, down 221 pts and the total volume of transaction amounted to 7,632 lots.

Telecommunication stocks had a heavy morning. China Mobile (0941), Hutchison Whampoa (0013), and Cyberworks (0008) fell 1.5 HKD, 0.1 HKD, and 1.5 HKD respectively, closing at 40.6 HKD, 4.85 HKD, and 94.5 HKD. Adversely affected by recommendations from security traders to change bets, Sun Hung Kai Properties (0016) declined by 2.5 HKD or 2.5% to close at 74.25 HKD and HSBC Holdings (0005) dropped 1.5 HKD to stand at 111.5 HKD.

MTR Corporation (0066) resisted the downward trend this morning and displayed outstanding performance despite the downward market, closing at noon at 13.85 HKD, a slight up of 0.15 HKD against the downing market.

NAPM index of USA stood at its ten-year lowest, reflecting the acceleration of the slowdown of the American economy. Li & Fung Ltd, which relies on the American market naturally suffered the hardest blow. It lost 10% at the first stretch, lowest being 12.4 HKD, and closed at 12.6 HKD, a drop of 1.3 HKD or 9.35 %. Johnson Electric Holdings Limited (0179) also slid by 0.65 HKD or 5.56% to close at 11.05 HKD.

Legend Holdings (0992) continued with its downward trend to close at 4.475 HKD, another drop of 0.225 HKD or 4.79%. QPL Intermational Holdings Limited (0243) and ASM Pacific Technology Limited (0522) fell 2.86% and 6.42 % respectively to close at 4.25 HKD and 10.2 HKD.

Global China Technology (1105) under Ho Chu Kwok made the announcement to confirm negotiation on acquisition of Sing Tao Holdings (0233) shares. This boosted the stocks to go upward, close at noon at 1.4 HKD with 0.005 HKD or 3.7 % up.

Concept of WTO and restructuring led part of the state-owned red-chips to go up against the downward market. China Eastern Airlines (0670), COSCO Pacific (1199) and China Everbright Holdings (0165) saw a slight up of 0.02 HKD, 0.05 HKD and 0.1 HKD to stand at 1.25 HKD, 6.3 HKD and 8.4 HKD. HSCEI and HSCCI closed at 365.7 HKD and1051.01 HKD with 4.93 pts and 15.23 HKD down.

Soluteck (8111-HK) shares debut in GEM and dropped beneath the issue price of 0.4 HKD to a lowest point of 0.37 HKD, closing at 0.415 HKD with 691 mln of turnover for the half day. GEM index closed at noon at 301.95 pts with 4.33 pts down.



--------------------------------------------------------------------------------

CASH on-line Ltd.
All rights reserved.
____________________________________________________________


MFG sevim

[sevim]

Hallo nochmal,

hier news über den strategischen Partner von cash iLux.

____________________________________________________________
iLux® Wins Coveted 2001 Appian Laurels Gold Laurel at Personalization Summit in San Francisco

iLux Suite 2000 Deemed Leader Among Rules-based Personalization Software Products


NEWARK, Calif. (November 27, 2000) - iLux Corporation, the fast growing, Silicon Valley-based provider of e-marketing solutions for e-commerce Web sites, today announced it has been honored with a 2001 Appian Gold Laurel Award for its iLux Suite 2000 software. The award was presented at the Personalization Summit 2001, held earlier this month in San Francisco. The 2001 Appian Laurels were given out by Appian Corporation, the leading U.S. personalization consulting firm. Other Gold Award winners included E.Piphany, Net Genesis and BroadVision.

According to Appian Corporation, "These awards are designed to recognize the industry`s dynamic landscape and continued growth. Each award is determined by in-depth interviews with end-user customers conducted by Appian`s implementation experts. Winners were evaluated for functionality, scalability, deployability, service, support and feature set. The Gold Laurel goes to companies with market ready technologies with great user potential."


"We are very pleased to receive this honor," said Ted Marr, Ph.D., president and CEO of iLux Corporation. "The Appian Gold Laurel represents a recognition of our efforts to provide e-commerce sites with the power to utilize their customer data and develop highly personalized and powerful marketing campaigns."


Introduced earlier this year, iLux Suite 2000 is the first comprehensive e-marketing product suite for companies doing business on the Internet. It allows users to capture all the information on Web site visitor behavior and then utilize that data for comprehensive marketing campaigns designed to turn e-shoppers into e-buyers. The iLux process, known as "analyze, personalize and advertise," establishes a completely visitor-centric approach for e-commerce marketing and gives Internet marketing professionals the capability to accomplish the most critical tasks needed to convert browsers into buyers. The extensive data collected by iLux Suite 2000 gives marketers the power to create personalized marketing campaigns tied directly to a particular visitor`s overall shopping behavior, including online buying, retail purchases and purchases made through catalogues. It also allows marketers to develop preference-based, individualized advertising tied directly to the interest of a particular shopper.



Health Central and iVenus Praise iLux in Appian Interviews

Appian conducted in-depth interview iLux customers as part of the awards process. Comments from Healthcentral (www.healthcentral.com) and iVenus (www.ivenus.com) included the following:


"By using iLux, we know what information is most relevant to our users and consequently we have continued to make improvements to our site that keep users coming back. iLux has shown us which content reaches the most visitors and makes it possible to evaluate the success of our marketing efforts. We compare visit to buy conversion rates for different marketing promotions and iLux data helped us design a new front door for our site with has increased the conversion of visitors to buyers," said Libby Knight, business analyst at Health Central.


"By using iLux, we know that we reach our target market with campaigns and information that is directly relevant to them. As a consequence, we`ve enjoyed sustained growth on our Website. Our visitors come back more often and stay longer," said Paul Cash, executive director of operations at iVenus.



About Appian Corporation

Appian Corporation is the leading personalization consulting firm in the U.S., dedicated to mastering the changing state of the art in personalization as well as the technologies which support it, such as data warehousing and wireless delivery. Author of the highly regarded Appian Web Personalization Report, Appian has provided the most complete analyst report on the online personalization industry available today. In 1999, Appian develop WAP 411, the wireless concierge, provided free of charge to wireless phone users at www.WAP41.com. Appian`s website is available at www.appiancorp.com. The company is privately held.



About iLux Corporation

Silicon Valley-based iLux Corporation is headquartered in Newark, Calif. The company provides leading edge e-marketing solutions for e-commerce Web sites, including iLux Suite 2000, the first comprehensive e-marketing solution for both online and offline marketing. iLux offers its product line through both direct sales and an ASP model and also offers Web analysis and outsourced marketing services. iLux products work in conjunction with leading vendors to the Internet market, including Sun Microsystems, Oracle, Netscape/America Online and Microsoft. Earlier this year, iLux formed a strategic alliance with Celestial Asia Securities Holdings Ltd. (HKSE: 1049), a leading Hong Kong-based financial services company, to jointly develop the Asian market for its critically-acclaimed e-marketing software. For more information about iLux and its products and services, visit the company`s Web site at www.ilux.com or call [phone].


# # #
iLux® is a registered trademark and iLux SuiteTM 2000 is a trademark of iLux Corporation.

Press Contacts:

E-Marcom
Steve Sylvia, 415-931-5555 or [e-mail]
Nancy Reuscher, 415-331-7218 or [e-mail]


iLux Corporation
Alison Bryant, 510-979-5744 or [e-mail]

____________________________________________________________


MFG sevim

[sevim]

Hier ein Bericht über Cash als Link.


____________________________________________________________

http://www.techbuddha.com/compidx/companies/celesasia.html

____________________________________________________________


MFG sevim

[sevim]

Hier der Research-Bericht aus Yahoo-Finance

____________________________________________________________


http://sg.biz.yahoo.com/z/a/1/1049.hk.html

____________________________________________________________


MFG sevim

[sevim]

Hier der Pressetext zur iLux Kooperation zur Erinnerung:

____________________________________________________________iLux® To Receive $24 Million Investment From Leading Hong Kong Financial Services Group

Agreement with CASH Will Greatly Expand Presence of E-Marketing Solution For E-Commerce Web Sites


NEWARK, Calif. (March 8, 2000) - iLux Corporation, the fast growing, Silicon Valley-based provider of e-marketing solutions for e-commerce Web sites, today announced that it has signed an agreement with Celestial Asia Securities Holdings Ltd. (HKSE: 1049), a leading Hong Kong-based financial services company, to form a strategic alliance to jointly develop the Asian market for its critically-acclaimed e-marketing software. As part of the agreement, iLux (www.iLux.com) will receive a $24 million investment from CASH, representing an approximate 30 percent stake in the company.

The agreement also gives CASH the right to appoint two representatives to the board of directors of iLux. Under the terms of their investment, CASH will pay $10 million in U.S. currency and has the option to pay the balance by using cash or capital raised through the issue of new shares of stock. iLux, in turn, will align with CASH to establish a joint venture, of which CASH will own up to a 60 percent stake. The joint venture, to be called iLux Asia, will have the sole right to sell, provide and supply the products and services offered by iLux for the markets in the Asian regions (including Japan).

In the U.S., iLux recently launched iLux SuiteTM 2000, the first comprehensive e-marketing product suite for companies doing business on the Internet. These powerful software products give Web sites the power to capture information on all of their visitors` behavior and then utilize that data for comprehensive, company-wide marketing campaigns that can include both online and offline components. By using iLux software, companies can provide a much more personalized and enriching shopping experience.

"We believe that the investment in iLux is a good opportunity for CASH," said Bankee Kwan, chairman and chief executive officer of CASH. "Since iLux technology can improve the overall data mining and personalization capabilities of any Web site, their products will contribute to the global growth and development of the Internet world. We see significant ROI in the long run."

CASH also plans to utilize and integrate iLux technology into its own product offerings. Through its Web site www.cash.com.hk, CASH offers investors a variety of services, including electronic trading (In-Trade and SmarTrade) and access to its online investment and financial services portal www.e-finance.com.hk.

"iLux products compliment our existing electronic offerings, like In-Trade and e-finance," said Kwan. "The integration of iLux`s intelligent data management will allow us to offer more personalized and quality services to our customers."

Through their joint venture, iLux and CASH will work together to expedite the penetration of the iLux Suite 2000 product line into the high-growth Asian market. iLux Asia, which plans to be operational by mid-2000, will offer its e-marketing solutions through an ASP model.

"This agreement represents a milestone for iLux," said Ted Marr, Ph.D., president of iLux Corporation. "With this investment by CASH, we will be able to greatly expand our overall market presence, especially in the world`s fastest growing Internet market. The explosion of Asian e-commerce offers us unlimited potential."

iLux Suite 2000 provides e-commerce Web sites with the ability to increase their revenues through customer relationship marketing. According to a leading U.S. high tech publication, "(iLux) offered more features and was more economical to purchase and deploy than its competitors... In all, iLux Suite 2000 offers a wealth of features to help you understand your online customers and respond with targeted marketing, which is sure to make your Web presence more profitable."

"Our solution is what every e-commerce site needs," said Marr. "With this investment by CASH, we`ll be able to bring that message to everyone."


About CASH

Celestial Asia Securities Holdings Limited ("CASH" or the "the Group") is a technology-driven financial services group which has been providing its customers in Hong Kong with a wide choice of investment opportunities - both locally and globally for more than 25 years. CASH is committed to investing in technology and to becoming a full-fledged financial services group that meets the global investment needs of our clients. More information on CASH and its products and services can be found at www.cash.com.hk.


About iLux Corporation

Silicon Valley-based iLux Corporation is headquartered in Newark, Calif. The company provides leading edge e-marketing solutions for e-commerce Web sites, including iLux Suite 2000, the first comprehensive e-marketing solution for both online and offline marketing. iLux also offers Web analysis and outsourced marketing services. The company`s products work in conjunction with leading vendors to the Internet market, including Sun Microsystems, Oracle, Netscape/America Online and Microsoft. For more information about iLux and its products and services, visit the company`s Web site at http://www.iLux.com or call 800-626-7711.


# # #
iLux is a registered trademark of iLux Corporation.

iLux Suite 2000 is a trademark of iLux Corporation.

Press Contacts:

iLux Corporation
Alison Bryant, 510-979-5744 or [e-mail]


CASH Corporate Communications Department, Hong Kong
Ms. Doris Lau, 011 852 2287 8741 or [e-mail]
Ms. Rosa Li, 011 852 2287 8745 or [e-mail]

____________________________________________________________


MFG sevim

[sevim]

Hallo Casher,

vorab der Market Focus, unsere tägliche Pflichtlektüre.

____________________________________________________________
Market Focus
Hang Seng Index up 645 pts on rate cut, Properties Index up 7%
(04/01 pm) The 0.5% surprise interest rate cut by FED completely altered the pessimistic outlook of HK stocks. Hang Seng Index rebounded at one time as high as 700 odd pts to 15312.61. It loitered around the high region and Blue Chips bloomed. HSI closed at 15235.03 pts, shot up 645.45 pts or 4.42%. Turnover for the half day was 14.41 bln. Spot month Futures closed at 15291 pts with 55.97 pts premium above the cash market, up 633 pts and the total volume of transaction amounted to 16369 lots.

Financials and properties shares benefited most from the rate cut and enjoyed most popularity. The hitherto weak property sector saw the highest rise. Hang Seng Properties Index closed at 19222.71, a soar of 1372.36 pts or 7.69%.

Sun Hung Kai Properties Ltd (0016) and Henderson Land (0012) rose 9.15% and 10.26% to close at HK$80.5 and HK$ 41.9. New World Dev (0017) and Sino Land (0083) gained 12.97% and 8.75% to close at HK$10.45 and HK$4.35. As for bank stocks, the performance of HSBC Holdings (0005) was most outstanding, a rise of HK$4 to stand atHK$116.

The sudden rise of Nasdaq boosted telecom and tech stocks. China Mobile (0941) and PCCW (0008) gained HK$2.2 and HK$0.3 to close at HK$42.9 and HK$5.15. ASM Pacific (0522) and Legend Hold (0992) rebounded by 9.80% and 8.33% to close at HK$11.2 and HK$4.875.

Utilities shares, which have recently been upheld as havens for capital, experienced a drop. CLP Hold (0002) and HK Electric (0006) fell against the upward market by 3.63% and 5% to close at HK$37.2and HK$26.6. Backed by its properties, MTR (0066), on the other hand, rose beyond HK$14 to close at the highest of the day, HK$14.2, a rise of HK$0.4 or 2.9%.

The fact that OPEC is considering a reduction in petroleum production has pushed oil prices up. PetroChina (0857) shares, absorbed by big buyers, rose by HK$0.14 or 11.11% to close at HK$1.4. China Petroleum & Chemical Corporation climbed up HK$ 0.08 or
6.72% to HK$1.27.

HSCEI and HSCCI closed at 385.21 pts and 1,094.22 pts, up 5.69% and 4.32% respectively. GEM Index closed at 305.22 pts, up 0.86%.



--------------------------------------------------------------------------------

CASH on-line Ltd.
All rights reserved.

____________________________________________________________

MFG sevim

[sevim]

Hallo Casher,

PCCW, einer der Minderheitspartner von Cash, will einen Browser für chinesche Web-Sites schaffen, der chinesische Web-Sites direkt in englische Web-Sites umwandeln kann.

____________________________________________________________


PCCW developing Web browser for China
January 05, 2001 01:57:00 AM ET


BEIJING, Jan 5 (Reuters) - Aiming to challenge Microsoft Corp (MSFT) and Netscape in China, conglomerate Pacific Century CyberWorks has teamed with a Chinese government think tank to create a bilingual Web browser, a state newspaper said on Friday.

Hong Kong-based PCCW and the Chinese Academy of Sciences have invested a combined 100 million yuan ($12 million) in the joint venture, called Cyber Trans Science and Technology Development Co Ltd, the China Daily said.

PCCW has a 51 percent stake in the venture.

"Our target is to grab back the browser market, which is totally controlled by Microsoft and Netscape," the newspaper quoted a statement from the joint venture as saying.

Netscape Communications is the Web browser unit of America Online (AOL).

The joint venture browser -- a kind of software that allows people to surf the Internet and view websites -- will provide automatic translation between English and Chinese, the China Daily said.

The browser would be launched "soon", it said. ($1=8.278 Yuan)

© 2001 Reuters

____________________________________________________________

MFG sevim

[sevim]

Hallo nochmal,

____________________________________________________________
Market commentary
(05/01 a.m.) US stocks gave a mild retreat on profit taking Thursday, the tech-rich Nasdaq composite lost 49 points, or 1.9 %, to 2,556, while the Dow industrials fell 33 points, or 0.3%, to 10,912. The number of initial jobless claims rose to 375,000 last week, the highest since July 1998. The unemployment rate due out tonight is expected provide more clues for cooling economy. The Fed cut the discount rate further by 25 bps Thursday after 25 bps reduction Wednesday, sending the treasury price higher. Crude oil price edged up. The New York oil futures finished up US$0.14 to US$28.14 per barrel, on expectation that OPEC will retrench production by next month.

Hong Kong market surged on rate-cut. The Hang Seng Index jumped 645 points to 15,235. Turnover hit its recent high of $14.4bn. Rate-sensitive bank and property issues were the drivers for the market rally. HSBC (0005) rose 3.6%, while Hang Seng Bank (0011) hit its everest highest in a row, closing at $107. Other smaller players such as Dao Heng (0223), Wing Hang (0302), Dah Sing (0440), IBA (0636), FPB Bank (0717) and LCH Bank (1111) all hit their 52-week high. SHK Property (0016) surged nearly 10% to its 52-week high of $80.5. Other plays such as Henderson Land (0012), New World Development (0017), Allied Property (0056), and Hon Kwok (0160) all advanced over 10%. APT Satellite (1045) and Asia Satellite (1135) were winners among the tech issue, both surging over 10%. China Mobile (0941) rose 5.4%, while PCCW (0008) was up 6.2%.

Hong Kong market may face profit - taking today after yesterday`s strong the rally. The ADR shares of China Mobile and China Unicom (0762) retreated 6% last night would weigh on the share performance but the Hang Seng Index should stay above 15,000 supportive level. We still prefer the rate-sensitive shares, of which the highly geared laggard would have most upward potential, such as New World Development, Sino Land (0083), and Wharf (0004). We also favor the WTO conceptual plays such as China Merchant (0144) and Cosco Pacific (1199).





--------------------------------------------------------------------------------
*The above information is provided by Celestial Research Limited.

____________________________________________________________


MFG sevim

[sevim]

Hallo Casher,

ein bißchen Lektüre zum WTO-Beitritt Chinas.


____________________________________________________________
Chinese negotiators to return to Geneva for talks on WTO entry bid
Jan 8 2001 4:13PM


Homeway


Chinese negotiators will return to Geneva this week for talks expected to pave the way for Beijing`s long-awaited entry into the World Trade Organization (WTO) by mid-2001, the China Daily reported.

China tried to complete its membership process in 2000 but the goal proved too ambitious despite regular and numerous rounds of talks in Geneva.

However, most analysts agree the end of this 14-year-long bid is now in sight.

Canada`s former ambassador to the WTO from 1995-1999, John Weekes, said he believed China would become a member by the middle of 2001 after the progress seen late last year.

"I think it`s probably going to take a good part of the first part of this year at any event to complete the process," Weekes said.

"I think it could well be done by the middle of the year in time to have China involved in the fourth ministerial conference as a member," he added.

Boasting the world`s 10th-biggest economy, China`s entry to the WTO would underscore its two-decade-long economic reform drive. The move is set to open up the country to unprecedented outside investment and influence.

China`s chief negotiator on WTO accession Long Yongtu said in December that a lot of technical work remained but negotiating partners all had the political will to resolve the issue.

He said they hoped the next series of talks would be "very, very important" so China could formally enter the WTO within months.

His delegation is due in Geneva, where WTO headquarters overlook the scenic lake, from January 10 until 17 during which time it is expected to take part in talks with other WTO members on bilateral issues.

But China must also draw up an overall agreement, bringing together in a multilateral context all the elements it has agreed in deals with individual members.

The last round of talks at WTO headquarters ended in early December, when WTO and Chinese officials reported progress in a number of areas, including protecting trade-related intellectual property rights.

The subject is a sensitive one as China`s record on safeguarding intellectual property rights is poor, and pirated goods cost multinationals operating in China millions of dollars a year.

State media reported late December that China was drafting amendments to copyright and trademark laws to bring its legislation more in line with international standards.

Falling just weeks after the last talks in Geneva, and in a traditionally quiet period in Geneva, which also hosts the UN`s European headquarters, John Weekes sees next week`s return to the negotiating table as a "good indication of the seriousness" of members.

Weekes, who now works for the Washington-based APCO, a public affairs company, said it could also be down to a push by the outgoing US administration before President-elect George W. Bush is inaugurated on January 20.

But he said he did not believe the process could be realistically completed by the time of the US presidential changeover, nor the changeover affecting China`s accession process.

"I think it`s very clear that the Bush administration will be very much attached to open trade. The Republicans gave more support to the permanent normal trade relations for China legislation in Congress than did the Democrats," Weekes said.

"So if anything I would see the new incoming administration being more enthusiastic about bringing China into the WTO than the outgoing," he added.

US officials in Geneva said they did not see any major change of direction as a result of the new administration in terms of China`s accession. They highlighted the bipartisan agreement on the importance of bringing China into the global trading system.

Copyright © 2000 Beijing Homeway Info.Media Ltd. All Rights Reserved.



____________________________________________________________

MFG sevim

[caylak1]

Hallo sevim, bitte die Lektüre in DEUTSCH. GRÜSSE

[ago508]

hallo sevim

ich möchte mich mal auf diesem weg bei dir für deinen unermüdlichen beitragsdrang bedanken.....

....gruß...und weiter so...

ago

[sevim]

Hallo Casher,

hier ein Überblick über die wichtigsten HongKong Aktien inklusive Cashon-line ganz unten.

____________________________________________________________
HK Stocks End Mostly Up, But Properties Tumble (Update1)
Jan 09, 2001 - 17:52:22 HKT
Quamnet News Service
Hong Kong stocks ended mostly higher on Tuesday, but property stocks tumbled on news that Sino Land Co. (0083) is raising as much as HK$1.17 billion in a share sale.
Hutchison Whampoa Ltd. (0013), which sold US$2.5 billion of bonds convertible into Vodafone Group Plc shares after market closed yesterday, and HSBC Holdings (0005) led most other stocks higher.

At the day`s close, the benchmark Hang Seng Index was up 64.06 points, or 0.41 percent, at 15,500.59, having moved between 15,336.62 and 15,555.97. Turnover was HK$11.07 billion compared with HK$12.7 billion yesterday. The Growth Enterprise Market Index, which tracks the performance of technology and related companies on Hong Kong`s second board, rose 0.11 points, or 0.04 percent, to 305.16 on turnover of HK$75.2 million.

"A weakening U.S. market will increase the pressure for the Fed to cut interest rates again, and that`s likely to bolster Asian markets," said Mark Wan, research manager at Tanrich (H.K.) Holdings Ltd. He expects the HSI to trade between 15,400 and 15,600 in the short term.

Properties stocks fell, with the Hang Seng Property sub-index losing 2.16 percent, or 426.07 points, to 19,285.93. The declines came as Sino seeks to raise as much as HK$1.17 billion by placing shares at an 8.4 percent discount to the developer`s last quote. Sino shares were suspended from afternoon trading today pending an announcement on the share placement.

Specifically, Sino`s parent Tsim Sha Tsui Property (0247) will first sell 180 million existing shares in Sino at HK$4.35 each to institutional investors, and then use the money to subscribe for the same number of new shares in the HSI constituent. If demand from investors warrants, the size of the sale will increase by a half to 270 million shares.

TST Property shares were also suspended. Sino shares lost 2.6 percent at HK$4.75 this morning, on turnover of HK$42.6 million. TST Property shares were up 1 percent to HK$4.90.

The exercise came after newspaper reports that Amoy Properties (0101) had failed to raise US$300 million (HK$2.34 billion) through a share placement yesterday. The property firm was said to have sought to place shares at HK$8.28 each - an 8 percent discount to its closing price yesterday. Amoy Properties dropped 6.7 percent to HK$8.40 today.

Investors were concerned that more property companies will take advantage of their share gains in the past two months to place shares. And there were also rumors that debt-heavy New World Development Co. (0017) would also sell shares in the near future. NWD shares ended today down 5 percent at HK$11.55.

"There will be more share placements by property companies, which will add pressure on those stocks in the short term," said Marco Mak, a director at Tai Fook Securities Ltd.

Chinese Estates Holdings Ltd. (0127) ended down 10.4 percent to HK$1.03, even after the medium-size property developer said it hasn`t participated in the acquisition of the Hong Kong property of Sogo Co. of Japan, which could increase its financial burden. Chinese Estates said it was its director Joseph Lau who bought the property. He recently teamed up with Cheng Yu-tung, chairman of NWD. (0017), to buy the property in Hong Kong`s prime Causeway Bay area for HK$3.53 billion.

Cheung Kong (Holdings) Ltd. (0001), Hong Kong`s largest developer by market value, fell 0.5 percent to HK$103. Sun Hung Kai Properties (0016) the second largest, dropped 3.6 percent to HK$76.75. Henderson Land Development Co. (0012) fell 1.8 percent to HK$42.70, giving up 2.2 percent gain in the morning.

Hutchison, Hong Kong`s largest conglomerate, added 1.8 percent to HK$98 after raising US$2.5 billion through the issue of bonds convertible into Vodafone shares, to fund the development of its third-generation mobile phone business. The bonds were eventually priced near the middle of its target range, and the issue size can rise by US$500 million if demand from investors warrants.

Hutchison currently holds a 3.5 percent stake in Vodafone, and will still own about 800 million to 1 billion shares, representing approximately a 1 percent stake in the world`s largest mobile phone company by subscribers, following the conversion of the latest bond issue.

Gains in bank stocks helped offset the drop in properties. HSBC, Europe`s and Hong Kong`s biggest bank, ended up 1.3 percent at HK$119. Its subsidiary Hang Seng Bank (0011) rose 1.9 percent to HK$105.50. Dao Heng Bank (0223) gained 2 percent to HK$46.70, after touching a 52-week high of HK$47.40 during the morning session.

However, Bank of East Asia (0023), the city`s third-largest publicly traded bank by market value, retreated 2.3 percent to HK$21.70 after jumping 4.7 percent yesterday to a 52-week high of HK$22.30. BEA is seeking to sell bonds to fund its acquisition of FPB Holdings (0717), which has already been completed. Standard & Poor`s assigned its triple-`B`-plus long-term and `A-2` short-term counterparty ratings on BEA yesterday. The outlook on BEA is stable, the rating agency said.

Meanwhile, Fitch, another international rating agency, assigned an expected long-term rating of `BBB+` to the planned subordinated debt issue of BEA. BEA proposed to issue subordinated notes due 2011 to refinance its US$300 million liabilities under its existing bridging notes yesterday. The rating is one notch below the bank`s senior debt rating of `A-`.

China Mobile (H.K.) Ltd. (0941), China`s largest mobile phone company, was unchanged at HK$44.70. Investors are taking profit on a 2.8 percent gain yesterday, which came after a local newspaper said the company may make a major announcement near the middle of the month, possibly related to Vodafone. The U.K.-based mobile phone company signed a memorandum of understanding in October last year to buy a 2 percent stake in the Chinese phone company. China Mobile and Vodafone were expected to sign a final agreement by Feb. 28.

Rival China Unicom Ltd. (0762), which owns the nation`s No. 2 mobile phone service, added 0.9 percent to HK$11.80.

Pacific Century CyberWorks Ltd. (0008), a major Asian communications company, rose 1 percent to HK$4.925, even after its Internet Protocol backbone venture with Telstra Corp. needed to increase the interest margins of a US$1.5 billion syndication loan to draw banks` interest.

The venture will pay an interest rate of 75 basis points above the London Interbank Offered Rate for the first three-year US$300 million facility, instead of 50 basis points originally. The rate for the second five-year US$825 million tranche will be increased to 105 basis points above Libor, from 65 basis points. That for the third seven-year US$375 million tranche will rise to 135 basis points above Libor, from 80 basis points.

PCCW had already lost 5.6 percent in the past two days after the company agreed with its five coordinating arrangers to pay higher interest rates to complete the syndication of another US$4.7 billion refinancing loan. The exercise had met with tepid response from other banks amid the recent poor sentiment towards telecoms companies.

Mass Transit Railway Corp. (0066), Hong Kong`s subway operator, rose 0.7 percent to HK$14.50. The stock has added more than 50 percent of its value since it debuted on Oct. 5. Hong Kong Exchanges and Clearing Ltd. (0388), the city`s sole marketplace for stocks and futures, ended up 1.7 percent to HK$18.45, after touching its record high of HK$18.65 during the session as market turnover improves.

Media stocks gained after Global China Technology Group Ltd. (1105) said it will buy out Sing Tao Holdings Ltd. (0233) at a 20 percent premium to Sing Tao`s last quote of HK$1.38 before it was suspended yesterday. Global Technology said it will pay HK$355.6 million, or HK$1.65 a share, to buy a 51.4 percent stake in Sing from Lazard Asia Fund, and will make a general offer to buy out the newspaper publishing company`s minority shareholders. Global Technology surged 18 percent to 59 HK cents. Sing Tao shares remain suspended today.

South China Morning Post (Holdings) Ltd. (0583), the publisher of Hong Kong`s best-selling English-language newspaper, jumped 7 percent to HK$6.10. Oriental Press Group (0018), which publishes the city`s best-selling daily newspaper, added 2.8 percent to HK$1.09. Ming Pao Enterprise Corp. (0685) rose 0.5 percent to HK$1.90. The company is reportedly in preliminary talks with Hong Kong tycoons including Li Ka-shing to buy a strategic stake in the media company.

Restructuring news continued to help boost China-related stocks. China Travel International Investment (H.K.) Ltd. (0308), the listed unit of China`s biggest tour operator, jumped 3.8 percent to HK$1.08 after it agreed to sell its entire 23.34 percent stake in Hing Kong Holdings Ltd. (0535) to an unnamed independent party in a bid to concentrate on its core leisure and transportation business. Hing Kong shares remain suspended today.

Citic Pacific Ltd. (0267), which has recently been active in China`s telecoms market, gained 3.1 percent at HK$29.55. The company has said it will propose to buy its parent company`s optical fiber networks in the mainland after their construction is completed.

PetroChina Co. (0857) fell 2.2 percent to HK$1.33. The No. 1 Chinese oil producer said yesterday it accelerated its staff reduction program by cutting more than 38,000 jobs in 2000. It had planned to reduce 50,000 staff in five years from its listing in April 2000. The staff reductions would save the company 700 million yuan in payrolls a year, though there was a one-time expenditure of 3.15 billion yuan.

China Petroleum & Chemical Corp. (0386), the nation`s biggest oil refiner, was unchanged at HK$1.24. Sinopec said it wasn`t able to provide an estimate on the costs for its staff reduction program, even after the Hong Kong Economic Times newspaper estimated the costs at 1.8 billion yuan. Meantime, it reiterated that it plans to cut 27,000 staff this year and a total of 100,000 over the next five years through retirement, natural attrition and layoffs.

Legend Holdings Ltd. (0992), China`s No. 1 computer maker, gained 3.96 percent to HK$5.25, after gaining 12 percent in the last two trading days. Software developer Founder (H.K.) Ltd. (0418) jumped 5.7 percent to HK$2.23.

GEM stocks were mixed. tom.com Ltd. (8001), a China portal controlled by billionaire Li Ka-shing, rose 2.6 percent to HK$1.97. SUNeVision Holdings Ltd. (8008), the Internet arm of Sun Hung Kai Properties Ltd. (0016), was unchanged at HK$2.80.

CASH on-line Ltd. (8122), an online broker spun off from Celestial Asia Securities Holdings Ltd. (1049), gained 6.7 percent to 11.1 HK cents, rebounding from 11 percent loss in the morning. It plunged 20 percent yesterday. CASH on-line listed on the GEM by way of introduction on Dec. 15 and the stock ended its market debut at 21.9 HK cents that day.


____________________________________________________________


MFG sevim


P.S.: Momentan finde ich keine neuen Infos, relativ ruhig. Was vielleicht ein wenig aufsehen erregen wird, ist die angekündigte Roadshow.

____________________________________________________________


CASH on-line
Upcoming Events


Upcoming Roadshow
Date: 14th January 2001 (Sunday)
Time: 10:00 am - 10:00 pm
Venue: Windsor House,
Causeway Bay
Exclusive Offer for "In-Trade" Account Opening Please bring along your HKID card & Address Proof

____________________________________________________________


MFG sevim

[sevim]

Hallo Casher,

immer noch nichts neues, deshalb studieren wir heute wieder mal nur die Tagesereignisse in HongKong.

____________________________________________________________

HSI Lower Midday; Sino Plunges on Placement (Update1)
Jan 10, 2001 - 13:29:48 HKT
Quamnet News Service
The benchmark Heng Sang Index, which fluctuated narrowly during the morning session, was slightly lower at midday. Bank stocks led the fall. While larger property firms recovered from yesterday`s declines, smaller ones were clouded by concerns of possible share placements after Sino Land Co. (0083) said yesterday it is raising as much as HK$1.17 billion in a share sale.

At midday, the benchmark Hang Seng Index was down 72.33 points, or 0.47 percent, at 15,428.26. Turnover was HK$6.1 billion. The Growth Enterprise Market Index, which tracks the performance of technology and related companies on Hong Kong`s second board, rose 0.70 points, or 0.32 percent, to 305.86 on turnover of HK$51.4 million.

"Rate-sensitive bank and property stocks consolidated on recent gains, with capital flowing to lagging stocks such as red-chips and H shares," said Ben Kwong, associate director at KGI Securities (H.K.) Ltd. He expects the market will remain soft in the short term.

The blue-chip index will fluctuate between 15,300 and 15,500 in the near future, he reckons.

Sino Land plunged 10 percent to HK$4.275, which is below its share placement price of HK$4.35. The stock was most heavily traded by value, with turnover at HK$828.9 million.

Sino Land said its parent Tsim Sha Tsui Property (0247) sold 180 million existing shares in Sino at HK$4.35 each to institutional investors, and then used the money to subscribe for the same number of new shares in the HSI constituent. If demand from investors warrants, the company will sell an additional 90 million shares. TST Property was untraded at HK$4.90.

Speculation about a share placement also depressed debt-heavy New World Development Co. (0017). The stock dropped 4.3 percent to HK$11.05 after losing 5 percent yesterday.

Other developers rose as investors sought bargains. Cheung Kong (Holdings) Ltd. (0001), Hong Kong`s largest developer by market value, rose 0.97 percent to HK$104. The stock, which rose about 6 percent since the Federal Reserve announced a 50 basis point interest rates cut, has been lagging behind others in the recent rally.

The company said it secured a HK$3.8 billion 5-year revolving and term loan facility at an interest margin of 41 basis points above the Hong Kong Interbank Offered Rate. The Hong Kong Economic Journal quoted the company as saying it has no plans for another syndicated loan or a share placement this year.

Sun Hung Kai Properties (0016) the second largest developer, added 0.6 percent to HK$80.25 as investors sought bargains after it dropped 3.6 percent yesterday.

Banks retreated on profit taking. HSBC Holdings (0005), Europe`s and Hong Kong`s biggest bank, shed 2.1 percent to HK$116.50. The bank was affected by poor performance of finance stocks in the U.S., a trader said. Its subsidiary Hang Seng Bank (0011) was up 0.5 percent at HK$106. Dao Heng Bank (0223) fell 1.3 percent to HK$46.10, after setting a 52-week high of HK$47.40 yesterday.

Bank of East Asia (0023), the city`s third-largest publicly traded bank by market value, fell 1.4 percent to HK$21.40. Standard & Poor`s recently assigned its triple-`B`-plus long-term and `A-2` short-term counterparty ratings on BEA. The outlook on BEA is stable, the rating agency said.

Telecoms stocks edged higher after overnight gains on Nasdaq. China Mobile (H.K.) Ltd. (0941), China`s largest mobile phone company, was up 0.4 percent at HK$44.90. Rival China Unicom Ltd. (0762), which owns the nation`s No. 2 mobile phone service, added 0.8 percent to HK$11.90.

Hutchison Whampoa Ltd. (0013), Hong Kong`s largest conglomerate, was unchanged at HK$98. Its unit Hutchison Telecommunications (H.K.) Ltd. said it may not be interested in a license to offer third-generation mobile phone services in Hong Kong if the government forces license holders to open their networks to other suppliers, according to the South China Morning Post.

Meantime, the company sold US$2.5 billion bonds convertible into Vodafone shares early this week to fund the development of its third-generation mobile phone business.

Pacific Century CyberWorks Ltd. (0008), a major Asian communications company, fell 0.5 percent to HK$4.90. Its Internet Protocol backbone venture with Telstra Corp. has agreed to increase the interest margins of a US$1.5 billion syndication loan to draw banks` interest. PCCW had already agreed with its five coordinating arrangers to pay higher interest rates to complete the syndication of another US$4.7 billion refinancing loan amid tepid response from other banks.

Mass Transit Railway Corp. (0066), Hong Kong`s subway operator, gained 2.4 percent to HK$14.85, a record high. The stock has added more than 50 percent to its value since it debuted on Oct. 5. Hong Kong Exchanges and Clearing Ltd. (0388), the city`s sole marketplace for stocks and futures, inched down 0.3 percent at HK$18.40.

Sing Tao Holdings Ltd. (0233) surged 16.7 percent to HK$1.61 after Global China Technology Group Ltd. (1105) said it will buy a 51.4 percent stake in the newspaper publishing company for HK$355.6 million, or HK$1.65 a share, and will make a general offer to buy out Sing Tao`s minority shareholders. Global Technology dropped 6.8 percent to 55 HK cents, as investors took profit on yesterday`s 18 percent surge on the acquisition news.

Other media stocks also gained. i-Cable Communications Ltd. (1097), Hong Kong`s sole pay television operator, surged 8.9 percent to HK$3.675. Television Broadcasts Ltd. (0511), Hong Kong`s dominant television broadcaster, jumped 4.6 percent to HK$40.80. South China Morning Post (Holdings) Ltd. (0583), the publisher of Hong Kong`s best-selling English-language newspaper, gained 2.5 percent to HK$6.25.

Restructuring of Chinese enterprises continues. Red-chip Chu Kong Shipping Development Co. (0560), a shipping agency and cargo handler, jumped 4.3 percent to 73 HK cents. The company said it is seeking to buy 10 mainland berths held by its parent company in a bid to focus its business on the development of logistics in China, investing in cargo transportation and other related businesses.

PetroChina Co. (0857), the No. 1 Chinese oil producer, fell 0.8 percent to HK$1.32. China Petroleum & Chemical Corp. (0386), the nation`s biggest oil refiner, also fell 0.8 percent to HK$1.23.

Legend Holdings Ltd. (0992), China`s No. 1 computer maker, jumped 6.7 percent to HK$5.60, extending a 16 percent gain in the last three trading days. Software developer Founder (H.K.) Ltd. (0418) rose 1.1 percent to HK$2.325.

On the Growth Enterprise Market, tom.com Ltd. (8001), a China portal controlled by billionaire Li Ka-shing, fell 0.5 percent to HK$1.96. SUNeVision Holdings Ltd. (8008), the Internet arm of Sun Hung Kai Properties Ltd. (0016), gained 2.7 percent to HK$2.875.

Beijing Beida Jade Bird Universal Sci-Tech Co. (8095), a software developer ultimately controlled by Beijing University, dropped 3.1 percent to HK$1.90.

CASH on-line Ltd. (8122), an online broker spun off from Celestial Asia Securities Holdings Ltd. (1049), plunged 8.1 percent to 10.2 HK cents, after gaining 6.7 percent yesterday.


____________________________________________________________


MFG sevim

[sevim]

Hallo Casher,

die Muttergesellschaft von Cashon-line hat ihren Anteil gesenkt, wie man ganz unten lesen kann.


____________________________________________________________

HSI Lower Midday; First Pacific Falls on Share Sale (Update1)
Jan 11, 2001 - 13:42:31 HKT
Quamnet News Service
Hong Kong Stocks were slightly lower at midday as bank and property plays softened. First Pacific Ltd. (0142) plunged after a report that its main shareholder, Indonesia`s Salim family, placed some of its shares.

At midday, the benchmark Hang Seng Index was down 77.34 points, or 0.5 percent, at 15,358.45. Turnover was HK$4.6 billion. The Growth Enterprise Market Index, which tracks the performance of technology and related companies on Hong Kong`s second board, fell 1.12 points, or 0.37 percent, to 302.19 on turnover of HK$53.2 million.

"Despite the gains on Wall Street, the rising crude oil prices created pressure on Asian stock markets including Hong Kong," said Mark Wan, research manager at Tanrich (H.K.) Holdings Ltd. A spate of factors, including China`s negotiations for admission to the World Trade Organization, uncertainty over further interest rate cuts, and the slowing U.S. economy, confused investors, he said.

Wan expects Hong Kong stocks to remain mixed, with the HSI moving between 15,200 and 15,500 in the afternoon.

First Pacific Ltd. (0142) plunged 15.3 percent to HK$2.075 after Indonesia`s Salim family sold almost US$31 million of its stake in the conglomerate at about HK$2 each, an 18 percent discount to its last price of HK$2.45 yesterday, according to the South China Morning Post. Turnover was a heavy HK$277.2 million. The fact that Salims placed existing shares in First Pacific, rather than new shares, indicates the Salim family urgently needs to sell assets to solve its financial problems, a securities analyst said. This will put pressure on First Pacific in the short term, he added.

Sino Land Co. (0083) shed 1.2 percent to HK$4.125, declining for a second day after its HK$783 million share placement. Sino Land said an option to sell an additional 90 million shares in the placement that began on Tuesday has not been exercised and has expired. The share sale was said to have met with a tepid response from investors, causing Sino shares to slump 12 percent yesterday.

Among other property companies that have been clouded by speculation about possible share placements, New World Development Co. (0017) rebounded 3.2 percent to HK$11.25, after losing more than 10 percent in the past two days. Amoy Properties (0101) also rose 1.8 percent to HK$8.50. Henderson Land Development Co. (0012) continued to fall, shedding 4.3 percent to HK$40.10.

Other property and bank stocks were soft as they consolidated on the recent rally spurred by a 50 basis point interest rate cut in the U.S.

Cheung Kong (Holdings) Ltd. (0001), Hong Kong`s largest developer by market value, fell 0.97 percent to HK$102. Sun Hung Kai Properties (0016), the second largest developer, shed 1.3 percent to HK$79.25.

HSBC Holdings (0005), Europe`s and Hong Kong`s biggest bank, was down 0.4 percent to HK$116. Its subsidiary Hang Seng Bank (0011) shed 0.5 percent to HK$105. Dao Heng Bank (0223) fell 3 percent to HK$44.60. Bank of East Asia (0023), the city`s third-largest publicly traded bank by market value, was down 1.2 percent to HK$20.95.

Telecoms stocks were mixed. China Mobile (H.K.) Ltd. (0941), China`s largest mobile phone company, added 1.1 percent at HK$45.70. The company said Hewlett Packard will buy up to a 7-percent stake in its unit Aspire Holdings Ltd. for US$35 million. Aspire focuses mainly on system integration, product development and technical support for mobile data systems and related applications in China.

Rival China Unicom Ltd. (0762), which owns the nation`s No. 2 mobile phone service, fell 0.8 percent to HK$11.70.

Hutchison Whampoa Ltd. (0013), Hong Kong`s largest conglomerate, was down 1 percent at HK$97.25.

Pacific Century CyberWorks Ltd. (0008), a major Asian communications company, fell 0.5 percent to HK$4.80.

Hing Kong Holdings Ltd. (0535), a property developer, jumped 5.5 percent to 96 HK cents after it said Vision Century Ltd. will take control of the company, combining the 29.98 percent stake owned by CyberCity Holdings Ltd. with the 23.34 percent stake owned by China Travel International Investment Hong Kong Ltd. (0308). Vision Century is owned 40 percent by CyberCity and 60 percent by two Singapore corporations. China Travel fell 2.7 percent to HK$1.09 on profit taking following its recent gains on the disposal news.

Investors continued to chase after selected media stocks after Global China Technology Group Ltd.`s (1105) takeover of Sing Tao Holdings Ltd. (0233). Sing Tao rose 0.6 percent to HK$16.20 after the deal pushed it up 16.7 percent yesterday. Next Media Ltd. (0282), an e-commerce operator and Internet content provider, jumped 9.6 percent to 40.5 HK cents.

"Some capitals are attracted to absorb media stocks after the Sing Tao deal on expectations of similar takeover activities on them," said Herbert Lau, head of research at Celestial Research Ltd.

Television Broadcasts Ltd. (0511), Hong Kong`s dominant television broadcaster, added 2.4 percent to HK$41.90, extending yesterday`s 4.9 percent gain. Oriental Press Group (0018), which publishes the city`s best-selling daily newspaper, rose 1.8 percent to HK$1.14.

Mass Transit Railway Corp. (0066), Hong Kong`s subway operator, fell 1.4 percent to HK$14.60, after hitting a record high yesterday. Hong Kong Exchanges and Clearing Ltd. (0388), the city`s sole marketplace for stocks and futures, fell 1.9 percent to HK$18.35, after rising to a record high yesterday.

Legend Holdings Ltd. (0992), China`s No. 1 computer maker, shed 1.8 percent to HK$5.50, after gaining over 20 percent in the previous four trading days. Software developer Founder (H.K.) Ltd. (0418) dropped 3.3 percent to HK$2.225.

PetroChina Co. (0857), the No. 1 Chinese oil producer, fell 1.5 percent to HK$1.29. China Petroleum & Chemical Corp. (0386), the nation`s biggest oil refiner, also shed 3.3 percent to HK$1.19.

On the Growth Enterprise Market, tom.com Ltd. (8001), a China portal controlled by billionaire Li Ka-shing, rose 0.5 percent to HK$1.95. SUNeVision Holdings Ltd. (8008), the Internet arm of Sun Hung Kai Properties Ltd. (0016), was unchanged at HK$2.825.

CASH on-line Ltd. (8122), a spin-off from Celestial Asia Securities Holdings Ltd. (1049), dropped 4.7 percent to 10.2 HK cents after it said its parent has reduced its interest to 48.72 percent from 49.77 percent, by selling 21 million shares.


____________________________________________________________


MFG sevim

[sevim]

Hier alle in HongKong gelisteten Firmen mit WebSite.


____________________________________________________________


http://www.cashon-line.com/CashLinks/eng/index.asp?body=stoc…

MFG sevim

[shitt]

Wie ist eigentlich der derzeitige Kurs von CASH-Online?

[sevim]

Hallo Casher,

den aktuellen Kurs von Cashon-line und von Cash bekommt ihr unter folgendem Link. Ihr müßt nur 8122 für Cashon-line und 1049 für Cash eingeben.

____________________________________________________________


http://www.finet.com.hk

oder


http://www.quamnet.com


oder

[http://www.stockhouse.com.hk[/url]

____________________________________________________________


MFG sevim

[sevim]

Hallo Casher,

China will sich weiter öffnen und schneller.


____________________________________________________________
OPEN ECONOMY
Economy to open up further with WTO entry ahead
Jan 15 2001 2:20PM


Homeway


China will commit to a more open economy and strengthen trade and technical co-operation with other nations upon its entry into the World Trade Organization, said Zhang Xiang, vice-minister of Foreign Trade and Economic Co-operation, China Daily reported.

Addressing a plenary session of the Second Globalization Forum on Saturday, Zhang said China is reforming its relevant policies and measures to conform with international practices.

The country is also beefing up efforts to standardize its administrative management, he said.

"China will become an important market with great potential in the coming 10 years and will become an important area for foreign direct investment," he said.

Meanwhile, the country will actively participate in world economic development by increasing investment in foreign countries.

Xu Zhiming, president of the Hong Kong International Investment Association, said it is imperative that China participate in the globalization process if it wants to find its way into the mainstream world economy.

Globalization, plus the country`s accession to the World Trade Organization, means China will be further integrated into the global trading system and more deeply involved in world economic development, he said.

Chinese enterprises will strengthen by learning advanced management techniques and by introducing leading-edge technologies, he said.

Zhang said economic globalization has sped up in the past 20 years, and international trade now plays an increasingly important role in world economic development.

International foreign trade has grown at an average annual rate of 7% since the beginning of the 1990s, which is faster than the world`s economic development of the same period.

During the 1990s, the capital flow also has accelerated, becoming the most dynamic factor of world economic development, Zhang said.

Foreign direct investment grew at an average annual rate of more than 30% since 1996, with the investment amounting to US$1.1 trillion in 2000.

Multinational companies` merger activities have become a major characteristic of the foreign direct investment, Zhang said, adding that mergers involved US$720 billion in 1999.

"Multinational companies have played a leading role in economic globalization," he said.

Among the world`s top 100 economic entities, 51 are multinational companies, not countries.

Output value by multinational companies now accounts for about 45% of the world`s total gross domestic product. These companies` foreign trade and foreign direct investment account for 60% to 90% of the world`s total.

"China`s accession to the World Trade Organization and participation in economic globalization are required by the country`s economic development," Zhang said.

Copyright (c)2000 Beijing Homeway Info.Media



____________________________________________________________


MFG sevim

[sevim]

Hallo nochmal,

dieses Post habe ich im Hartcourt-Thread veröffentlich und ist auf meine Hartcourt-Investition hin ausgerichtet. Der Phan, von dem ich berichte ist der Ceo von Hartcourt und hat die Meinung, es mit dem WTO-Eintritt nicht so eilig zu haben. Daraufhin habe ich versucht, einige Gründe dafür zu finden und es schließlich auch so empfunden, wie ihr jetzt nachlesen könnt.

Hartcourt ist eine kalifornische Beteiligungsgesellschafft, die in China versucht ein Netzwerk von Internetlösungen und Finanzdienstleistungen zu etablieren.(WKN 900009 oder hrct an der OTC-BB)


____________________________________________________________

Und nocheinmal Hallo,


einige Gedanken zur WTO und Phan`s Ausspruch, daß Hartcourt von 2 Jahren WTO-Abstinenz noch mehr profitieren würde.


In China gibt es momentan zwei ambivalente Richtungen.
Einmal der Wunsch zur Öffnung der Märkte, damit frisches Kapital und Know-How nach China fliesen kann. Und der Schutz der eigenen Interessen zur Erhaltung und Sanierung der alten kommunitischen Wirtschaftstruktur. China hat viele Probleme wie Überbevölkerung, Umweltzerstörung, altes kommunistische Kaderdenken, soziale Probleme wegen der enormen Rentenzahlungen, eigenes Schriftgut, was sich grundlegend von der Lateinischen unterscheidet, Überschuldungen der staatseigenen Firmen und deren Rentabilität usw. Chinesen haben auch ein anderes Weltbildverständnis und andere Vorstellungen von Toleranz und Gesellschaftsidealen.
Diese Probleme in Zusammenhang mit der restlichen kapitalistischen Welt in Einklang zu bringen liegt nun in den Händen einiger elitären Schichten.
Einerseits wird vom eigenen Weg gesprochen, was sich z.B. in der Ankündigung eines eigenen ChinaWideWeb (kurz CWW) wiederfindet und andererseits sollen Auslandsinvestitionen diese Bedürfnisse mit unterstützen. Kein Wunder, daß viele republikanische US-Hardliner da ihre Skepsis haben, daß China es ernst meint mit der Öffnung. In China tobt ein gewaltiger Machtkampf zwischen Retros und Modernisten. Was ein plötzlicher Umschwung für Gefahren birgt, konnte man ja an den ehemaligen Staaten der Sowjetrepubliken sehen, nämlich Chaos und Armut. Nun die Armut besteht in China auch so, aber ein 1,5 Milliarden-Volk von der Leine zu nehmen, würde ebenso Gefahren ungeahnten Maßes mit sich bringen. Um dem entgegenzuwirken propagieren die Retros die Methode der strikten Kontrolle und Repression. Die Modernisten dagegen wollen nicht länger auf Welterrungenschaften wie Coca Cola und WWW verzichten und fordern die vollständige Öffnung. Wie immer liegt auch hier die Lösung in der Mitte. Man kann dieses riesige Volk nicht weiter hinter der der großen Mauer verstecken, nein sie muß auch im Interesse des Umweltschutzes Z.B. ( China wäre bei diesem Tempo des Wirtschaftswachstums bald der größte Umweltverschmutzer noch vor den Amis) alle Kräfte bündeln, um einen reibungslosen Eintritt in die übrige Welt zu schaffen. Genauso müssen auch die westlichen Länder Rücksicht auf die Probleme China`a nehmen und keine radikalen Schritte fordern. Denn durch die dadurch geschürten Unruhen würde keinem Geholfen sein.

Nun zu Phan:
Angeblich kennt er sich mit der chinesischen Seele und deren Geschäftsgebaren gut aus, was sich in Aussprüchen wie Chinesen sind jetzt schon auf Markennamen (Brandnames) fixiert, wiederspiegelt. Auch die Tatsache, sich auf Gut mit der chin. Regierung stellen zu müssen, um an lukrative Geschäfte ranzukommen, beherrscht er ganz gut, wie sich an einigen Kooperationen zeigt (z.B. die exklusiven Rechte zur Internetübertragung chinesischer Gerichtsurteile und Gesetzesänderungen und Sportberichterstattungen).
Ich denke mal, daß Phan ebenso die Probleme in China sehr gut kennt und andererseits das Potenzial der wenigen Wohlhabenden an den Küstestreifen wie in Shanghai usw. erkannt hat und nun versucht zu sagen, daß ein langsamerer Eintritt in die WTO die Sensibiliesrung der westlichen Länder gegenüber den Problemen erhöhen würde. Gleichzeitig hätten die Chinesen mehr Zeit sich mit den sicherlich dann kommenden Errungenschaften wie Demokratie und Voltairesches Vernunft.- und Toleranzdenken des abendländlichen Kulturgutes anzufreunden. Denn wie gesagt, ihr würdet euch wundern, wie untolerant und unvernünftig die Mehrheit der Chinesen, in unseren Maßstäben gesehen, denken.
Hartcourt würde durch seine First-Mower-Position natürlich ebenso profitieren, da man so Zeit bekommt, die Namen wie SinoBull und StreamingAsia z.B. zu sogenannten Brandnames wachsen zu lassen, um gegen Namen wie Microsoft und IBM bestehen zu können. Deren Einstieg in China würde in zwei Jahren immer noch zu Erfolg führen.

Deshalb mein Fazit: Nicht nur Hartcourt, nein auch China würde bei einem langsameren Einstieg in die WTO profitieren, weil erst jetzt so langsam klar wird, was da auf die Welt zukommt.

Hingegen zu meinen alten Äußerungen hat sich also meine Meinung gewandelt, weil ich mich intensiv mit diesem Problem beschäftigt habe.

Ein schneller Einstieg würde vielleicht kurzfristig etwas bewirken, jedoch dann langsam eine Zeitbombe ungeahnetn Ausmaßes mit sich bringen.

Deshalb lobe ich hier ausdrücklich die Meinung Phan`s, es langsam angehen zu lassen, wenn auch vielleicht aus egoistischeren Gründen.

Jetzt habe ich einen Grund mehr very Long zu sein, mindestens 2 Jahre.

MFG sevim

____________________________________________________________


MFG sevim

[Duplex]

Hallo Casher!

Melde mich mal nach langer Zeit wieder! Bin immernoch überzeugt von dem Unternehmen und habe auch deshalb kräftig nachgekauft und mein Break-Even tief nach unten verrückt! :-)
Zu Sevim:
Waaahnsinn! Deine Zeit möchte ich gerne haben!!!!!

Ich staye auch longer! :-)

Gruß
Duplex

[sevim]

Hallo Casher,

@Duplex: Na du treulose Tomate, läßt mich hier ganz alleine den Showmaster machen. Wäre ein wenig über Unterstützung erfreut. Schließlich fahren wir mit Cash momentan in unruhigen Gewässern, allerdings ist Cash heute zum erstenmal seit langem wieder um 7,4% gestiegen und der folgende Artikel macht mich auch wieder ein wenig optimistischer.


____________________________________________________________
China stock markets seen to continue rally in 2001: Salomon Smith Barney
1/16/2001 4:27:51 PM
HONG KONG (AFX-ASIA) - China`s domestic stock markets, which performed
exceptionally well last year, are expected to continue to rally in 2001,
Salomon Smith Barney said in a report.
The rally should result in a spillover into red chips and H-shares, it
added.
However, it is recommending profit-taking on the A-share listing
excitement and to focus on sustainable domestic fundamentals.
"Some of the recent gains among red chips and H-shares due to the hype
surrounding A-share listings seem overplayed," it said.
The report said the A-share market reforms are positive for funding,
share liquidity and the investment flexibility of China-related companies,
adding that the China Securities and Regulatory Commission is likely to
continue to focus on increasing market size and improving enterprise quality.
"We believe that 2001 will be a very critical year for development and
reform of the stock markets in China.
This year, we expect to see the de-listing of state-owned enterprises,"
the report said.
Salomon Smith Barney estimates that about one-third of the listed
state-owned enterprises will face insolvency within the next five years.
Irregularities still present in China`s stock markets include the fact
that about one-third of total shares are still held by the state.
In addition, the main role of the stock market seems to be confined to
raising capital rather than changing corporate governance, with little
influence from minority shareholders on companies` decision making process.
It said due to problems in information disclosure and management
accountability, share prices are often not closely related to the efficiency
or profitability of companies.
"The stock market boom of 2000, for instance, probably had more to do
with changes in the macroeconomic environment and improvement in liquidity
than company performance."
It said the second board is likely to be introduced this year, as well as
the setting up of joint-venture fund management companies.
Salomon Smith Barney is recommending taking profits on Beijing
Enterprises, Tianjin Development and Tsingtao Brewery, which it said have
risen largely on the A-share listings euphoria.
ra/av



--------------------------------------------------------------------------------

CASH on-line Ltd.
All rights reserved.


____________________________________________________________


P.S.: Man hat nie genug Zeit, aber man kann Zeit so organisieren, daß man mal auch das machen kann, worauf man lust hat. (ich habe das Wort "man" genau 4 mal in diesem einen Satz benutzt, Mannoman.)


MFG sevim

[Duplex]

Hallo Casher!

Tja, ich hab auch mit Freuden den Anstieg von CASH und HSI gesehen. Eeeendlich!

War auch auf Erkundungstour in der Charthistorie von Cash. Alles lief ab wie wir es jetzt sehen, und dann explodierte der Kurs auf einem Schlag ( ohne eine wichtige Info an diesem Tag/Monat ). Siehe April 99 bei www.e-finet.com ( 1049 ). Ich denke, darauf spekulieren alle hier. Was heißt denke, ich weiß es! Und da Cash kein schlechtes Unternehmen ist, kommt es nur darauf an, solange dabeizubleiben bis es abgeht.

Gruß
Duplex

[sevim]

Hallo Casher,

HongKong versus Shanghai:

____________________________________________________________


Tuesday, 16 Jan 2001 at 2:38 PM EST
Post # of 119593


"One Door Is Not Enough" - Good article -

Tuesday, January 16, 2001

BY XU KUANGDI; ISABELLA NG


As Shanghai`s mayor since 1995, Xu Kuangdi has been the architect of the city`s rocketing growth. He spoke with TIME reporter Isabella Ng about the city`s future and its position vis-a-vis Hong Kong.

TIME: Will Shanghai replace Hong Kong as a financial and trading hub?

Xu: Shanghai`s goal is to become the major financial, trading and economic center west of the Pacific Ocean. Shanghai is also trying to become an international city in 15 years` time. But I don`t think we can replace Hong Kong. Shanghai has advantages. There are seven provinces along the Yangtze River. These account for a third of the country`s population and 50% of its output. Those who invest in Shanghai can access this area. But Hong Kong has advantages that no one can compete with.

TIME: What are the main strengths of each city?

Xu: Hong Kong is very cosmopolitan. If Shanghai is the gateway to China, Hong Kong is the gateway to Southeast Asia. Countries like Malaysia, Singapore and Indonesia can borrow money from the American and Japanese banks in Hong Kong. You cannot do this in Shanghai. And Hong Kong has a good port and very good port control. Hong Kong also has the rule of law and an efficient administrative system. Shanghai can hardly replace Hong Kong in those respects.

TIME: How about 10 to 15 years down the road?

Xu: It`s not about who replaces whom. Maybe Shanghai`s economic growth will surpass that of Hong Kong. But that would not be a "replacement." When Frankfurt started to grow and became a financial center, it could not replace London--they have different traditions and markets. I think Hong Kong will be Asia`s financial hub, but Shanghai will be the financial center of China. Its role will be to link China and the world.

TIME: Will other Chinese cities take business away from Shanghai?

Xu: China is so big; one door is not enough. You know Chinese love to have a lot of doors in their houses. Cities like Tianjin and Dalian may grow as well. In 20 years, if our country`s economic output is the second largest in the world, we will need one more economic center.

TIME: What are the biggest problems you have faced?

Xu: Plenty--I can`t list them all in one conversation! There were problems with layoffs, for instance. Also, at one stage during the Asian financial crisis, Shanghai had an office-vacancy rate of more than 50%. I faced a lot of pressure.

TIME: On a scale of 1 to 100, how would you rate your performance?

Xu: It`s hard to assess myself. It`s better for the Shanghai people to rate me. But I should be able to score 60 out of 100.


____________________________________________________________

MFG sevim

[sevim]

Hallo nochmal,

Cash hat heute in HongKong 11 % zulegen können. Die 0.03€ sind also erstmal gefestigt. Hoffentlich bewahrheitet sich deine Theorie von der Explosion von Cash, Duplex.


MFG sevim