Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 256.89

-1.2%

Dec 31 3:59 PM EST

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To: Jacob Snyder who wrote (58383)	1/4/2002 2:06:53 AM
From: StanX Long	Read Replies (1) of 70976

Good news is still coming. Stan Friday January 4, 1:39 PM Singapore stocks rise by midday on hopes of recovery sg.news.yahoo.com SINGAPORE (Reuters) - Singapore shares were strong by midday on Friday as hopes of an economic recovery and a rally on Wall Street powered technology stocks and blue chips higher. "We are pre-empting a strong recovery. The good news is that in Singapore we had a 40 percent decline in earnings last year and so there will be earnings growth this year," said Kevin Scully, managing director at independent research house NetResearch-Asia. By the break, the benchmark Straits Times Index was up 1.48 percent or 24.47 points at 1,678.18 -- its highest mark since early August. It has risen 3.4 percent in 2002. Gainers thrashed losers 227 to 64, with volume still heavy at 510 million shares after the 523 million at midday on Thursday. Many stock markets have begun the new year in strong fashion on news of an improvement in global semiconductor sales for November as well as a hike in South Korean memory chip prices. For recession-hit Singapore, the Purchasing Managers Index's (PMI) 2.4-point gain to 48.3 percent in December offered more proof of an economy on the mend after recent data showed an improvement in November exports and manufacturing output. A PMI reading below 50 percent indicates the manufacturing economy is generally contracting but analysts noted it was the highest in nine months.

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