Far East Markets - Taiwan, Korea, Hong Kong, China and India Message Board

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Strategies & Market Trends : Far East Markets - Taiwan, Korea, Hong Kong, China and India

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From: BigSwingingD	3/23/2005 4:49:04 AM
	of 30

End of Market Commentary Mid-Session weakness in Taiwan dissipated as investors took advantage of market dips to buy tech shares on hopes of improving fundamentals. Turnover remained flat as focus now turned to the planned Saturday street protest against China anti-secession law. Kospi index fell to a five-week low, led by exporters such as LG Elec and Hynix (also D-Ram pricing pressures) on concern the Fed will accelerate the pace of interest rate rises to fight inflation. Shihan came out after hours releasing a statement saying that it expects net profit (‘05) to be higher after tripling profits last year. Once again volume light all round… Sinopec and Petrochina both 3% lower despite raising of gas prices by the Govt. With the exception of Netcom, telcos down across the board, drawing from general Hang Seng weakness. The Won and TWD snapped a relatively long losing streak to end slightly higher despite enthusiasm earlier on the day. The TWD should be moving higher given investors expect the Taiwan Central Bank to raise rates by 12.5 bp on Thursday to keep inflation in check and limit the gap with US rates.

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