GEM index rebounds after initial plunge; three major web shares retreat

GEM index retreated slightly before midday closing, finishing at 294.7pts, a slight loss of 1.59pts. Cashon-line Limited (8122) topped with an up-range of 57.75% to close at HK$0.112. Proactive Technology Holdings (8089) also snatched 40% to end at HK$0.43. On the other hand, TeleEye Holdings Ltd. (8051) lost 7% to close at HK$1.14 and tom.com (8001) shed 6.67% to HK$2.45. Two other web shares Hongkong.com Corporation (8006) and Sunevision Holdings (8008) plunged 4% to finish at HK$0.495 and HK$2.075 respectively.

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