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Politics : Formerly About Applied Materials

AMAT 253.43

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3:59 PM EST

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To: advocatedevil who wrote (59828)	2/1/2002 1:47:22 AM
From: StanX Long	Read Replies (1) of 70976

Taiwan stocks end down on pre-holiday concerns Friday February 1, 1:52 PM sg.biz.yahoo.com TAIPEI, Feb 1 (Reuters) - Taiwan stocks ended an up-and-down session a touch lower on Friday, as fears of unwelcome surprises during a long market holiday beginning next week eventually outweighed optimism over improving corporate fundamentals. The TAIEX <.TWII> share index fell 14.21 points, or 0.24 percent, to 5,857.93, after opening more than one percent higher at the intraday high, then sliding into see-saw trade. "There should be strong resistance at the 6,000 point level. I think people are worried about what will happen over the 10-day holiday," said James Lu, investment director of JF Asset Management (Taiwan). "I think people are still expecting growth. Consensus is that corporate profits will grow 30-40 percent this year and that is quite amazing," said Lu, who oversees some US$60 million in funds for institutional clients.

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