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Politics : Formerly About Applied Materials

AMAT 328.27

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To: StanX Long who wrote (58762)	1/14/2002 2:12:00 AM
From: StanX Long	Read Replies (1) of 70976

01/14 01:41 Asian Stocks: Taiwan Drops After Greenspan Remarks (Correct) By Brett Cole quote.bloomberg.com Taipei, Jan. 14 (Bloomberg) -- Taiwan stocks fell for a second day after U.S. Federal Reserve Chairman Alan Greenspan suggested a recovery in the largest economy may be delayed. United Microelectronics Corp. led declines. The TWSE Index dropped 1.3 percent to 5611.86, while indexes in Hong Kong and Australia also declined. Greenspan said there are ``significant risks'' in the near term, leaving the door open for a 12th interest rate cut in 13 months. The U.S. benchmark rate is currently at a 40-year-low of 1.75 percent. ``There is no further room for them to cut rates aggressively,'' said Chris Choy, who helps manage $60 million at Pacific World Asset Management in Hong Kong. ``The market just wants to know when the economy will recover.'' In Korea, Samsung Electronics Co. lifted the Kospi index 2.3 percent on expectations chipmakers will increase contractor prices as early as tomorrow for a fourth time in less than two months. Singapore's Straits Times Index added 0.2 percent, led by SembCorp Logistics Ltd., as it expects to complete new cargo handling agreements in China.

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