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2002-5-14 04:14:00 p.m. HKT, XFNA
STOCK ALERT - SAC Cement closes higher on speculative interest
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HONG KONG (AFX-ASIA) - Shanghai Allied Cement closed up 0.004 hkd at 0.
024 on volume of 655.77 mln shares on speculative interest, especially among
retail investors, dealers said.
They said the gains may have been merely liquidity driven, as some
investors have been looking for laggards after considerable gains by
larger-cap stocks recently.
The company has issued a statement saying that it is unaware of reasons
behind the increase in its share price and confirmed that there have not been
any negotiations or agreements relating to acquisitions or realisations that
are discloseable.
SAC Cement, which supplies, designs and installs ceramic production lines
and machinery and distributes ceramic tiles, granite and marble products, has
recorded four consecutive years of losses.
wj/jv
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