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Politics : Formerly About Applied Materials
AMAT 259.15+1.1%Dec 22 3:59 PM EST

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To: StanX Long who wrote (64114)5/31/2002 3:36:42 AM
From: StanX Long  Read Replies (2) of 70976
 
Asian Stocks: Japan's Tokyo Electron Gains; Australia Declines
By Michael Tsang

quote.bloomberg.com

Tokyo, May 31 (Bloomberg) -- Japanese stocks rose for the first day this week, led by Tokyo Electron Ltd. and other chip- equipment makers, after orders for Japanese-made gear increased for a second month in April.

The Nikkei 225 stock average advanced 0.9 percent to 11,875.79. The Topix index added 0.6 percent to 1127.50, as Ito- Yokado Co. and other retailers were the second-biggest contributors to the index's gain after a government report showed household spending rose for the first time in three months.

``Chip equipment makers are finally seeing a pickup in orders, which suggests that sales should improve,'' said Shigeki Ubukata, who manages $162 million at Sumisei Global Investment Trust Management Co. The orders report ``makes me more optimistic the industry will see a rebound by the end of the year.''

In other markets, Australia's S&P/ASX 200 Index shed 0.8 percent, led by News Corp., on concern its plan to buy Vivendi Universal SA's Italian pay-television business will increase its costs.

Exporters such as Samsung Electronics Co. led South Korea's Kospi down 1.2 percent after jobless claims in their biggest market rose. Elsewhere, Taiwan Semiconductor Manufacturing Co. pushed the TWSE Index 1 percent lower after the local currency strengthened.
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