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Politics : Formerly About Applied Materials

AMAT 304.84

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To: StanX Long who wrote (58567)	1/9/2002 4:08:29 AM
From: StanX Long	Read Replies (1) of 70976

Wednesday January 9, 3:15 PM Hynix powers gains as Seoul shares jump 2.29 pct (Updates to close, adds analysts comments) sg.biz.yahoo.com SEOUL, Jan 9 (Reuters) - Hynix Semiconductor Inc <00660.KS> powered a 2.29 percent rise in Seoul shares on Wednesday, leading gains after local media reported U.S. rival Micron Technology Inc had offered to merge their core memory chip operations. Micron chief executive Steve Appleton headed a delegation that had offered a merger in dynamic random access memory (DRAM) chips used in computers, Yonhap news agency reported, sparking a surge in Hynix shares and those of its creditors. Hynix and Micron officials said talks were under way but declined to comment on the report. The world's third largest computer memory chipmaker rose by its 15-percent daily limit to close at a six-month high of 3,225 won ($2.48). The benchmark Korea Composite Stock Price Index (KOSPI) <.KS11> ended up 2.29 percent, or 16.85 points, at 751.61. Hynix's main creditor Korea Exchange Bank <04940.KS> jumped 14.8 percent to a 16-month high of 5,660 won. Heavy trade in Hynix-related shares pushed trade volume to levels not seen in nearly two months and buoyed securities shares as investors bet on better earnings from fatter commissions.

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