在线国产一区二区_成人黄色片在线观看_国产成人免费_日韩精品免费在线视频_亚洲精品美女久久_欧美一级免费在线观看

  Home>News Center>China
       
 

Skyworth scandal ignites stocks sell-off
By Jian Er (China Daily)
Updated: 2004-12-02 09:42

Investors gave most mainland private enterprise stocks a wide berth in Hong Kong Wednesday after the city's anti-corruption watchdog arrested top management of Skyworth Digital Holdings, one of the country's largest TV makers, on allegations of fraud and misappropriation of company funds on Tuesday.


Customers visit a Skyworth TV section in an home appliance store in Zhengzhou, Henan Province in this June 22, 2004 file photo. [newsphoto]
But stock analysts said the sell-off would be temporary and the strong demand for initial public offerings (IPOs) would not be dampened as large pools of liquidity betting on the revaluation of renminbi are still afloat in the territory.

The Hang Seng China Enterprise index fell 24.94 points to 4,942.5 Wednesday, underperforming the benchmark Hang Seng Index which closed at a fresh three-and-a-half year high of 14,162.8.

Most mainland private enterprise stocks posted 3-5 per cent drops while Skyworth's rival TCL International, China's biggest TV producer, rose 3.448 per cent to HK$2.25 (28 US cents) Wednesday.

Global Bio-Chem Technology Group fell 4.237 per cent to HK$5.65 (72 US cents), Gome Electrical Appliance dropped 4.412 per cent to HK$6.5 (83 US cents), Chaoda Modern Agriculture finished 4.425 per cent lower at HK$2.7 (34 US cents), Fujian Zijin Mining Industry dropped 3.4 per cent to HK$3.55 (45 US cents) and Kingdee International Software sank 3.371 per cent to HK$2.15 (27 US cents).

"The scandal surrounding Skywor-th inevitably had a negative impact on other mainland private enterprise stocks as investors have always been worried about the corporate governance of these companies," said Louis Wong, director of Phillip Securities (HK) Ltd.

Stephen Wong, the chairman of Skyworth, three board members, a financial controller as well as five others were arrested by the Independent Commission Against Corruption in Hong Kong (HK ICAC) on Tuesday for alleged corruption relating to fraud and pilfering of corporate funds.

"The downward-pressure on the prices of these stocks will continue for some time but will merely be temporary as investors will focus on the fundamentals of a company in the long run," said Ben Kwong, director of KGI Asia.

He said the Skyworth corporate scandal would have a greater im-pact on those companies with low trans-parency but it was still an individual case which could not apply to all other mainland private enterprises.

In addition, both Wong and Kwong agreed the arrests of top management at Skyworth would by no means dampen the strong demand for new listings in the market.

A string of IPOs is scheduled to be listed in here over the next two weeks, raising up to US$4.88 billion.



 
  Today's Top News     Top China News
 

Prudent course charted for 2005 deckhead

 

   
 

Chinese leaders value role of economic audit

 

   
 

All 166 trapped miners confirmed dead

 

   
 

Male homosexuals estimated up to 12.5m

 

   
 

Skyworth scandal ignites stocks sell-off

 

   
 

Inclusive UN reform urged

 

   
  All 166 trapped miners confirmed dead
   
  Peasoup dips over nation while snow's on the way
   
  New technology to strengthen flight safety
   
  Chinese leaders value role of economic audit
   
  Ferry promotes links between mainland, island
   
  Beijing prepares to meet press
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
主站蜘蛛池模板: 亚洲在线一区 | 四虎永久在线 | 狠狠干在线视频 | 福利小视频 | 久热在线| 亚洲欧美中文字幕 | 久久精品视 | 国产精品原创 | 国产免费小视频 | 久久精品久久久久久久 | 亚洲国产网站 | 一区二区国产视频 | av黄色网址 | www.欧美精品 | 911精品国产一区二区在线 | 黄色在线观看免费 | 日本精品久久久 | 特级淫片裸体免费看 | 国产亚洲区| 91精品久久香蕉国产线看观看 | 午夜视频网站 | 免费不卡视频 | 性大毛片视频 | 99一区二区三区 | av免费观看网址 | 福利影视 | 北岛玲在线 | 亚洲成人精品在线观看 | 一级免费黄色片 | 日本欧美视频 | 免费av大片 | 在线观看a视频 | 天天操夜夜干 | 一区二区三区四区视频 | 午夜视频网站 | 中文字幕免费视频 | 亚洲欧美日韩综合 | 中文字幕超清在线观看 | 亚洲久热 | 成人午夜视频在线观看 | 超碰在线成人 |