var myTimer:Timer = new Timer(200);
myTimer.addEventListener(TimerEvent.TIMER,tick);
myTimer.start();
tick();
 
function tick(event:TimerEvent = null):void {
        var date = new Date();
        var secs:uint = date.getSeconds();
        var mins:uint = date.getMinutes();
        var hours:uint = date.getHours();
        hourhand.rotation = (360 * (hours / 12)) + (30 * (mins / 60));
        minutehand.rotation = 360 * (mins / 60);
        secondhand.rotation = 360 * (secs / 60);
}