January 14, 2000
Japan Hot Stk:Chip-Making Equipment Stks Up On Intel Pfts
TOKYO (Nikkei/Dow Jones)--Shares of Japan's Tokyo Electron Ltd. (J.TKE or 8035) and other high-priced semiconductor manufacturing equipment-related stocks are higher Friday afternoon in Tokyo on better-than-expected fourth quarter earnings for Intel Corp. (INTC), traders said.
But their early rising momentum has eased a touch as remarks by U.S. Federal Reserve Chairman Alan Greenspan prompted sporadic profit-taking, they said.
At 0351 GMT (11:51 p.m. EST Thursday), shares of Tokyo Electron, a major electronics trading company, were up Y590, or 5.0%, to Y12,400 on volume of 475,000 shares. The stock briefly climbed as high as Y13,100.
Advantest Corp. (J.ADV or 6857), a leading producer of semiconductor testing devices, was up Y1,360, or 6.7%, at Y21,800 after rising as high as Y22,440 at one stage. Volume so far comes to 221,300 shares.
In after-hours trading, Intel's share price jumped to 95 5/8 from its regular-session close of 91 1/16 after the company announced fourth quarter earnings of $2.4 billion, or 69 cents a share, up 17% on year after subtracting charges for acquisitions. Revenue increased 8% to $8.21 billion. Both earnings and revenues were above analysts' expectations.
Greenspan said late Thursday in a speech to the Economic Club of New York that the recent runup in U.S. stock prices is pushing the economy beyond its limits, suggesting that the Fed will go through with an interest-rate rise next month. Players fear that Greenspan's comments could trigger a U.S. stock selloff. |
