Take a dynamic text field named as 'Mytime' which will be used in scripting and in dynamic text field time will appear.

Adjust font color and size of text according to your need.

Take a blank movie clip may be outside of movie area (canvas) and write following script on that and you are done.

onClipEvent (enterFrame) {
_root.Mytime = new Date(hour,min,sec,ms);
}