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Politics : Formerly About Applied Materials

AMAT 268.42

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To: StanX Long who wrote (63602)	5/13/2002 1:13:49 AM
From: StanX Long	Read Replies (1) of 70976

Asian Stocks: Japan Falls, Led by Tokyo Electron; Taiwan Drops By Michael Tsang quote.bloomberg.com Tokyo, May 13 (Bloomberg) -- Japan's Nikkei 225 stock average had its biggest two-day drop in seven weeks, led by Tokyo Electron Ltd. and other chip-related shares, on concern orders will slow as chipmakers cut spending amid sliding product prices. The Nikkei fell 1.7 percent to 11,335.31, while the Topix index lost 1.1 percent to 1074.46. Computer-related companies such as Sony Corp. were the biggest decliners as a group, tracking the Nasdaq Composite Index's slump, even after companies such as Hitachi Ltd. said they'll be profitable this year. ``I'm struggling to find any good reasons to buy right now,'' said Nobuaki Kurisu, who oversees $55 million in Japanese equities at Sumisei Global Investment Trust Management Co. ``Restructuring efforts by companies are the major reasons behind the better forecasts we're seeing from computer-related companies, but that doesn't mean their business is improving.'' In other markets, Taiwan's TWSE Index fell 0.9 percent as the island's worst drought in a decade threatens to disrupt production at AU Optronics Corp. and other companies. Hong Kong's Hang Seng Index added 0.7 percent after Credit Suisse First Boston recommended investors buy the city's stocks, lifting banks and developers.

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