PAGER maker Prod-Art Technology, one of the best-performing stocks of 1993, has slumped to become the Hong Kong market's worst performer in the first six months of this year.
The counter, listed at the start of last year, has suffered from the austerity measures launched by the Chinese Government.
Prod-Art's share price surged sharply in the first half of 1993, gaining more than 326 per cent at its high.
However, the share price started to dip last September and has now dropped to 58 cents, well below its issue price of 64 cents (adjusted from the original $1.28 to take account of a two-for-one bonus share issue).
Analysts said that Prod-Art was one of the losers under the macro-economic measures implemented by the Chinese Government, which tightened credit control throughout the country.
''As a result, delayed payment by paging stations has brought down its income,'' said Eugene Law, research director of Standard Chartered Securities.
