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

To: StanX Long who wrote (58358)	1/3/2002 2:32:28 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Thursday January 3, 1:45 PM Straits Times Index climbs to four-week high sg.news.yahoo.com SINGAPORE (Reuters) - Singapore's main share index climbed to a four-week high in heavy volume by midday on Thursday as blue chips like Singapore Airlines and banks led a broad-based rise on hopes of an imminent economic recovery. "We are starting to see a lot of people, even the Singapore government entities, starting to predict a decent second half of 2002. That's life in the stock market -- you anticipate the next move," said Curtis Montgomery, chief executive of independent investor portal WallStraits.com Pte Ltd. The Straits Times Index was up 1.32 percent or 21.41 points at 1,647.10 by the break. Gainers swamped losers 226 to 50 as volume doubled to 523 million shares from 256 million at the break on Wednesday. Better than expected global sales of semiconductors in November and a hike in South Korean memory chip prices sparked confidence of a turnaround in the technology sector and boosted Wall Street on Wednesday. "As Singapore's level of exports is highly co-related with global chip sale levels, this is positive news as far as the Singapore economy is concerned and keeps us on track for a second half 2002 recovery," Cheryl Lee, assistant vice-president for research at G.K. Goh Research Pte Ltd, wrote in a report.