ecorp (ECP) announced that its wholly-owned subsidiary Ticketek has formed a joint venture with Hong Kong Ticketing Alliance Limited to launch a Ticketek operation in Hong Kong. Shares were trading 1.5 percent lower at AU$2.69.
Pay-TV provider Austar United (AUN) and market leader Telstra (TLS) announced that they had reached agreement for Austar to resell the top telco's national CDMA mobile phone service. Austar will market the service as well as provide billing and customer support. Austar was knocked down to trade at AU$5.71 -- 0.3 percent lower.
Telstra stock was downbeat at AU$7.09 despite unveiling prices for its ADSL (Asymmetric Digital Subscriber Line) technology. Telstra's ADSL products will reach about 90 percent of Australian homes and businesses by mid 2002, according to the telco.
Cable & Wireless Optus (CWO) also dropped 0.8 percent of its stock price and was trading at AU$4.93. Other telcos were driven higher, AAPT (AAP) was trading up 2.7 percent at AU$5.75 and Davnet (DVT) put on 0.6 percent to trade at AU$1.60.
Channel E (CEL), E*Trade (ETR) and Spike Networks (SPK) were all unattractive to investors and trading at 19 cents, AU$2.39 and 71 cents respectively -- all down in the 4 percent bracket.
The day was prosperous for LookSmart (LOK) -- the Internet search engine trading 10.7 percent higher at AU$1.65 -- and Harvest Road (HRD) gained 8 percent to trade at 67 cents.
