GEM issues lose more lustre

PUBLISHED : Friday, 12 January, 2001, 12:00am
UPDATED : Friday, 12 January, 2001, 12:00am

The Growth Enterprise Market index fell to less than 300 points for the first time yesterday to close at 299.95 points, down 1.34 per cent on the day, making for a 70 per cent loss in less than 10 months.

'It's a drifting market. There's a lack of conviction. [Current] technology sentiment has something to do with it,' e2-Capital Securities assistant vice-president Ryan Fong said, pointing out several GEM-listed firms were of a poor quality.