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Politics : Formerly About Applied Materials

AMAT 322.51

+6.1%

Feb 6 9:30 AM EST

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To: StanX Long who wrote (61733)	3/8/2002 1:30:19 AM
From: StanX Long	Read Replies (1) of 70976

Asia Stocks Mixed on Greenspan By Richard Baum marketwatch.nytimes.com{6C5C4BAF-0057-4029-AB67-9F27A53B65FC}&siteid=NYT&dist=NYT SINGAPORE (Reuters) - Asian stock markets took divergent views on Friday of Federal Reserve Chairman Alan Greenspan's declaration that the U.S. recession was over, hitting a seven-month peak in Tokyo but falling in several centers. The continued rally in Japanese shares helped the yen hold steady after scoring its biggest advance on the dollar in two years on Thursday. Other Asian currencies also firmed. Shares notched up a two-month high in Hong Kong and neared a 13-month best in Taiwan, but fell in Singapore and South Korea. Greenspan's comment on Thursday that the economic recovery was "well under way" hit U.S. stocks by raising fears about possible interest rate hikes. The blue-chip Dow Jones industrial average slid 48.92 points, or 0.46 percent, to 10,525.37, while the Nasdaq composite fell 8.77 points, or 0.46 percent, to 1,881.63. Tokyo shares nevertheless gained as international investors continued to diversify their portfolios around the world in the expectation that the United States was pulling the global economy out of the pit.

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