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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (58331)	1/2/2002 9:04:55 PM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Wednesday January 2, 6:21 PM Techs rescue Singapore shares at start of 2002 By Muralikumar Anantharaman sg.news.yahoo.com SINGAPORE (Reuters) - Singapore shares recouped early losses and closed slightly higher on Wednesday, the first day of trading in 2002, as news of a hike in Korean memory chip prices stoked recovery hopes and boosted the technology sector. "You can call it a spillover effect but certainly I wouldn't consider it as having a direct impact on corporate profits on the companies in Singapore," said Marc Tan, principal fund manager at OUB Optimix Funds Management, which manages S$250 million. Tan said while the DRAM (Dynamic Random Access Memory) chip segment had already hit bottom several months ago, the situation may not be so positive for other companies that dominate Singapore's technology sector. "But I suppose at the end of the day it's a question of sentiment," he said. South Korea's Hynix Semiconductor Inc announced a 30 percent hike in contract chip prices on Wednesday. Samsung Electronics, the world's largest memory maker, said it too was considering raising contract chip prices. The news boosted the Korean and Taiwanese stock markets.