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2002-2-19 03:52:00 p.m. HKT, XFNA
STOCKWATCH - Takson Holdings higher on technical rebound, speculative interest
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HONG KONG (AFX-ASIA) - Takson Holdings shares were higher on a technical
rebound along with speculative interest from retail investors, dealers said.
At 3.39 pm, Takson Holdings was up 0.10 hkd or 16.66 pct at 0.70, on
trade of 18.93 mln shares.
The Hang Seng Index was down 176.47 points at 10,826.34.
Giovanni Kuang, an analyst with Tung Tai Securities, said technical
rebound was behind the sharp gains in Takson Holdings, which has fallen over
60 pct since the beginning of February.
On Feb 1, it closed at 1.44 hkd, and it fell to 0.54 hkd last Friday.
""The previous decline could be related to some cut-loss trade and it is
now taking a technical rebound,"" he said.
Takson Holdings' share price is usually subject to much volatility, Kuang
noted.
Louis Wong, an analyst with Philip Securities, agreed that speculative
interest was boosting Takson Holdings' share price.
""It fell sharply earlier this month and it is now posting technical
gains... this has nothing to do with its fundamentals,"" he said.
Through its subsidiaries, Takson Holdings sources, subcontracts, markets
and sells outwear garment.
For the year to March 2001, the company recorded a net loss of 69.8 mln
hkd, compared with profit of 50.4 mln in fiscal 2000.
wl/zr
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