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

To: Frederick Langford who wrote (5483)	5/29/2001 8:28:32 PM
From: Susan G	Read Replies (2) \| Respond to of 5732

Glad I left my name as susiebear <G> I just have not trusted this move up, and after today, it's back to cash every night again. I think we go down to retest the nas lows this summer. Maybe a higher low, but there is NOTHING to keep this market moving up IMO. Bop, a new term to be added to the dictionary of daytrading terms, thanks to marsh!!

To: Frederick Langford who wrote (5483)	5/29/2001 11:42:09 PM
From: 2MAR$	Read Replies (1) \| Respond to of 5732

NEC Trims China Chip Expansion Proj TOKYO (Dow Jones)--NEC Corp. (NIPNY or 6701) will scale down an earlier plan to expand semiconductor production capacity at its joint venture in Shanghai, China, due to the recent downturn in the global chip industry, a company spokesman said Wednesday. However, the move has already been factored into the Japanese electronics giant's capital investment plan, announced late April, for the current fiscal year ending March 2002, the spokesman said. NEC's move to revise their capital spending plans underscores the increasing need for Japanese semiconductor makers to respond quickly to a rapidly changing marketplace. NEC projects a 34% decline in its chip-related capital spending on a group basis to Y144 billion this fiscal year. In January, NEC said it would invest Y35 billion to expand monthly 8-inch wafer output at its local joint venture, Shanghai Hua Hong NEC Electronics Co., from the current 20,000 wafers to 30,000 wafers by the end of this year. But now, NEC plans to spend only Y20 billion to increase monthly output by 5,000 wafers, the official said. The expansion is mainly to accommodate system LSIs (large-scale integrated circuits), used in mobile phone handsets. "We will continue to flexibly revise our capital investment plan, depending on the market situation," he said. Shanghai Hua Hong NEC Electronics was established by NEC and local entity Shanghai Hua Hong (Group) as part of a Chinese government project to promote the semiconductor industry. Shanghai Hua Hong (Group) holds a 71.4% stake in the joint venture, which is capitalized at $700 million, while NEC group holds the remainder. The joint venture now mainly manufactures dynamic random access memories, or DRAMs. Based on NEC's global chip business strategy, the company will increasingly shift its focus to advanced semiconductor products from commodity-grade DRAMs used in personal computers. At midday, NEC's shares were down 6.6% on the Tokyo Stock Exchange, along with other major Japanese chip makers, Toshiba Corp. (J.TOS or 6502), Hitachi Ltd. (HIT or 6501) and Fujitsu Ltd. (J.FUT or 6702). The sector's drop follows an overnight fall of 3.4% on the tech-heavy U.S. Nasdaq market, and ratings cuts on 13 Japanese high-tech and semiconductor issues, including NEC, by Deutsche Securities. Deutsche Securities said demand growth trends for mobile phones, networking equipment, Internet, and personal computers have all come to a turning point, suggesting the risk of big earnings outlook cuts around August to October. -By Kanji Ishibashi, Dow Jones Newswires; 813-5255-2929; kanji.ishibashi@dowjones.com -0- 30/05/01 03-32G (END) DOW JONES NEWS 05-29-01 11:32 PM * end of story *