-- DJ Korea Hot Stks:Semiconductor Cos Up On Rising Chip Prices --
SEOUL (Dow Jones)--Shares of South Korea's semiconductor makers are generally
higher Wednesday on rising chip prices in the global market, analysts said.
At 0525 GMT (1:25 a.m. EDT), Hyundai Electronics Industries Co. (Q.HEL) was up
1,100 won ($1=KRW1193.80) at KRW38,800 on volume of 8.7 million shares, while
Hyundai MicroElectronics Co. (Q.HYE) gained KRW800 to KRW27,800 on volume of 6.8
million share s.
However, Samsung Electronics Co. is down KRW4,000 to KRW237,000 on
profit-taking, analysts said.
"Prices of 64 megabit dynamic random access memory chips have been rising
sharply recently on rising demand for computers ahead of the year 2000," said an
analyst at Dongwon Securities Co. "The chip, which costs around $4 per unit on
the spot market t wo months ago, has risen above $12 and it is expected to stay
that way until the end of the year."
He said that more and more people are replacing computers on concerns that
their computers may experience Y2K problems.
The analyst said Samsung Electronics' 1999 net profit is expected to soar to
KRW2.96 trillion, from a profit of KRW300 billion last year.
Hyundai Electronics is more likely to stay in the red this year because of
losses to be incurred from the expected merger with Hyundai MicroElectronics in
October, but it should return to the black next year, he said.
-By Shin Jung-won; 822-732-2165; jung-won.shin@dowjones.com
(END) DOW JONES NEWS 09-08-99
01:33 AM- - 01 33 AM EDT 09-08-99
Symbols:
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GB;SMSN US;SSNG
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