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Strategies & Market Trends : Trend Setters and Range Riders -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (5258)	5/21/2001 9:34:40 AM
From: SusieQ1065	Read Replies (1) \| Respond to of 5732

Watch for follow through on cheapie LENS...CREE making me happy...die EMLX...please? ;-)

To: 2MAR$ who wrote (5258)	5/22/2001 11:20:44 PM
From: keithcray	Respond to of 5732

SCMR one to watch tomorrow on the short side if we get some selling.

To: 2MAR$ who wrote (5258)	5/24/2001 7:34:16 AM
From: keithcray	Respond to of 5732

Reuters Finance News Asia Shares Bruised by Nasdaq Beating May 24 3:21am ET By Valerie Lee SINGAPORE (Reuters) - Stocks in Asia took a slight bruising on Thursday as Nasdaq's Wednesday fall revived investor selling in technology shares, while the yen retreated on talk of central bank intervention. "We cannot help but get a head wind from abroad," said Kunihiro Hatae, general manager in Tokai Tokyo Securities' equities trading division. "People have been keen to lock in profits from gains in high-tech stocks here in recent weeks," he added. The benchmark Nikkei share average gave up 1.22 percent or 171.91 points to finish at 13,895.79. European shares also looked set to pull back following lower closes in the U.S. markets and with business light as many countries took time off for an Ascension Day holiday. On Wednesday, the Nasdaq Composite Index sank 3.04 percent to 2,243.50 as traders questioned the sharp rises on the tech-heavy index over the past six sessions amid grim outlooks from some U.S. software firms and fresh data showing a plunge in computer chip orders. The Dow Jones average fell 1.35 percent to 11,105.51. A surprise surge in the yen rippled through Japanese markets, denting already vulnerable stock prices and giving investors another reason to opt for the safety of government debt. The Japanese currency raced to near three-month highs on the dollar and hit a five-month peak against the flailing euro, before giving up ground as inevitable rumors of intervention by the Bank of Japan cooled the market's fever. The yen was trading at 119.87/90 against the dollar by 0612 GMT and at 102.61/2.71 against the euro. TOKYO SLUMPS The Tokyo share decline was the third straight. The stronger yen and the Nasdaq slide slapped back shares of bellwether techs and big exporters. "Domestic institutions were looking for reasons to unwind a good slice of their long positions in the tech sector. The yen and the Nasdaq gave them two very good ones," said Masayoshi Okamoto, a trader at Jujiya Securities. Electronics giant Sony dipped 2.45 percent to 9,950 yen, while Honda Motor Co Ltd ended down 3.44 percent at 5,060. Semiconductor equipment makers found themselves under a negative spotlight from a bearish report on the sector by U.S.-based trade group Semiconductor Equipment and Materials International. TECH LOSSES HIT HK Hong Kong shares slid by about one percent by midday as investors cashed in on tech shares. The benchmark Hang Seng index <.HSI> of 33 blue chips was down 1.03 percent at 13,696.84 points. "Tech stocks took the cue from Nasdaq and fell but the market should stay fairly thin in the short term with the U.S employment figures out later tonight, and on Friday Hong Kong's revised GDP figures will be closely watched," said Miles Remington, head of Asian sales at SG Securities. Shares in Taiwan weathered the blow of Nasdaq's overnight fall and closed slightly higher on Thursday on continued net buying by foreign funds and hopes for state fund support. The benchmark TAIEX index stayed in a narrow 74-point range all session ending up 0.32 percent at 5,226.79. SEOUL A SHADE DOWN In Seoul, South Korea's bellwether stock index ended a shade lower driven by chip makers and Pohang Iron and Steel Co (POSCO). Trade held in a tight range, with strength in Hyundai Securities helping the market recoup early losses at the last minute on expectations for takeover talks between a U.S. insurance group and the government. The Korea Composite Stock Price Index (KOSPI) shed 0.05 percent to close at 622.28, down 0.32 point.