CHICAGO, 28 April 2000 - "This venture (between PCCW and Morningstar) is a major step forward in our mission to bring the most innovative financial information to investors worldwide," said Tao Huang, president of Morningstar’s international division.
The operation in Asia will provide financial information, analytical tools, and investment guidance. The firm plans to offer consumer-focused financial websites in Hong Kong and later expand to other markets in the region. These sites will offer data and customized editorial on each country's domestic stocks and mutual funds. They will also give investors in the Asian region access to Morningstar investment screening and portfolio building tools.
Softbank Finance Corporation, a major shareholder of Morningstar Japan K.K., and Softbank Investment International (Strategic) Limited have also expressed an interest to invest in Morningstar Asia. Softbank Finance Corporation also holds a 20% stake in Morningstar Inc.
About Pacific Century CyberWorks
Pacific Century CyberWorks Limited is the Hong Kong-listed technology flagship of Pacific Century Group since August 1999. PCCW aims to create a one-stop shop for companies to extend their businesses onto the web and to foster rapid growth across the larger Internet economy in Asia.
Chicago-based Morningstar, Inc. is an independent provider of investment information. The company’s line of Internet, software, and print services offers news, data, and analysis on stocks, mutual funds, closed-end funds, and variable annuities.
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