ad info

 web features
 magazine archive
 customer service
  east asia
  southeast asia
  south asia
  central asia

Web-only Exclusives
November 30, 2000

From Our Correspondent: Hirohito and the War
A conversation with biographer Herbert Bix

From Our Correspondent: A Rough Road Ahead
Bad news for the Philippines - and some others

From Our Correspondent: Making Enemies
Indonesia needs friends. So why is it picking fights?

Asiaweek Time Asia Now Asiaweek technology

OCTOBER 1, 1999 VOL. 25 NO. 39

E-vesting: Taking Stock of Tech
After a shaky start, the Portfolio found its legs. Now the index includes two racier Internet companies

This is a marathon, not a sprint. That's what we kept telling ourselves as the Portfolio, our selection of 20 Asian Internet and technology stocks, stumbled off the starting line after its June 30 launch. Some pullback was expected. A furious spring rally in Asian technology shares had given way to greater caution by investors. But many of our selections submerged rather alarmingly and the entire group stayed underwater through most of August.

Cover Story: Done Deal
Peter Yip took public. Now he must make it great

Living in the Future
A corporate vision of the all-digital home

Bid Bad Wolf
Don't get cheated at online auction sites

PULSE: Next-generation Sony Playstation, musical mobile phones, elephant chips, and mice with missing parts

POLITICS.COM: Feminism on the web

FACE OFF: Muscling in on mp3

PORTFOLIO: A tech-stock tune-up

E-VESTING: Digging for investment gold

TOOLBOX: Build-it-yourself web pages

B2B: Mixing televisions and the Internet for profit

WIRED EXEC: Net merchant Leroy Kung

Saved by the sector's legendary volatility. Paced by gains in Softbank, Son Masayoshi's Internet consortium, the portfolio snapped back in late August and September. Lehman Brothers began coverage of Softbank three months ago, calling it "the hidden gem of the global Internet sector." A string of Softbank investments and partnerships, many of them in online finance, propelled the stock to a 51% gain between July 3 and Sept. 17, although it gave up ground recently. Other outperformers were Japan's Trend Micro, maker of anti-virus software, up 49% since July 3, and Web portal Yahoo! Japan, up 50%.

Laggards included Cable & Wireless HKT, down 10%, and Pacific Internet, down about 19%. Creative Technology fell 23%. But they did not drag us under. By Sept. 17, the group in total was up slightly better than 15% since inception, compared to a 4.7% rise in the tech-heavy Nasdaq Composite Index over the same period.

We're not altogether satisfied. We assembled the portfolio with misgivings about Asia's shortage of public companies that derive most of their revenue from the Internet. Although we would like a broad range of info-tech stocks represented, the initial line-up is over-populated with telecommunications companies that provide Internet services on the side.

That's why we're adding to the list two Hong Kong high-rollers, and Pacific Century CyberWorks (and subtracting Singapore Telecommunications and VSNL, India's big international phone company). Asia's most-watched IPO to date, soared on its opening day on Nasdaq in July, and investors have been on a wild ride since. The Internet portal has been knocked as second-rate, but now is armed with $150 million for improvements. More wild swings are in the offing. It is widely believed that America Online, a stakeholder, will join with its partner in a Hong Kong Internet access service.

As for Pacific Century CyberWorks, the Hong Kong-listed company counts among its assets the Cyber-port, a proposed office/residential complex for the tech industry. But real estate is not propelling this stock. We like PCC chief Richard Li's vision of serving high-speed Net access throughout Asia via satellite and cable-TV networks. Let's see if that flies.

For a complete listing of portfolio stocks, see

Source: Asiaweek Research. Bridge Information Systems. All share prices are in local currencies

Technology Home | Asiaweek Home



U.S. secretary of state says China should be 'tolerant'

Philippine government denies Estrada's claim to presidency

Faith, madness, magic mix at sacred Hindu festival

Land mine explosion kills 11 Sri Lankan soldiers

Japan claims StarLink found in U.S. corn sample

Thai party announces first coalition partner


COVER: President Joseph Estrada gives in to the chanting crowds on the streets of Manila and agrees to make room for his Vice President

THAILAND: Twin teenage warriors turn themselves in to Bangkok officials

CHINA: Despite official vilification, hip Chinese dig Lamaist culture

PHOTO ESSAY: Estrada Calls Snap Election

WEB-ONLY INTERVIEW: Jimmy Lai on feeling lucky -- and why he's committed to the island state


COVER: The DoCoMo generation - Japan's leading mobile phone company goes global

Bandwidth Boom: Racing to wire - how underseas cable systems may yet fall short

TAIWAN: Party intrigues add to Chen Shui-bian's woes

JAPAN: Japan's ruling party crushes a rebel at a cost

SINGAPORE: Singaporeans need to have more babies. But success breeds selfishness

Launch CNN's Desktop Ticker and get the latest news, delivered right on your desktop!

Today on CNN

Back to the top   © 2000 Asiaweek. All Rights Reserved.
Terms under which this service is provided to you.
Read our privacy guidelines.