Facix up 7.7 points, buoyed by PCCW

The FinanceAsia Composite Internet Index (Facix) closed at 277.89 points on August 9, Wednesday, up 7.71 points (+2.86%) from the previous day.
The FinanceAsia Composite Internet Index (Facix) closed at 277.89 points on August 9, Wednesday, up 7.71 points (+2.86%) from the previous day.
 
The biggest stock on the Facix, Pacific Century CyberWorks (PCCW) rose from HK$16.30 to HK$16.70 (+2.45%) on Wednesday when Richard Li sold about 1% of PCCW. About HK$2.3 billion apparently went to Hong Kong's Tracker Fund. The Facix reflected this movement when it rose +2.86%. PCCW has a weight of 47.94% in the FACIX.

The day's best performers were: GigaMedia which went up 15.63%; e-Kong, which went up 14.44%; and Softbank Investment International which rose up 13.33%.

The worst decliners were: Sohu.com which closed down -9.00%; eWORLDOFSPORTS.COM which went down -13.79%; and Rediff.Com India which craashed -17.20%
 
To account for the NASDAQ or NYSE traded stocks, the Facix is calculated the following day, Hong Kong time.
 
The Facix is an index of 57 Asian "pure-play" or "intimately pure-play" internet stocks created and maintained by FinanceAsia, the leading capital markets magazine in the region.
 
The base currency for the Facix is the US dollar. Its value was set to 1,000 on January 3, 2000, the first trading day of the millennium.