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

To: StanX Long who wrote (59570)	1/29/2002 3:05:46 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Tuesday January 29, 2:16 PM STI mixed at midday as Chartered falls sg.news.yahoo.com SINGAPORE (Reuters) - Singapore shares were mixed by midday on Tuesday as a negative outlook from Chartered Semiconductor Manufacturing triggered profit-taking but funds were still buying some blue chips like OCBC Bank. "The result announced by Chartered wasn't definitive at all of the pace of the recovery," said Nicholas Yeo, fund manager at Aberdeen Asset Management Asia, which manages about US$2.5 billion. "So we are not too sure what sort of a recovery we are going to get, especially in the technology sector where the prices had been suggesting we are getting a much better recovery." The bellwether Straits Times Index was up 0.35 percent or 6.13 points at 1,779.03 by the break, recovering from being down 0.68 percent in the morning. The STI had jumped 6.5 percent in the past two trading days as funds targeted blue chips. The broader market was mixed, with losers and winners standing neck-and-neck at 121 each. Volume was lower at 416 million shares compared with 492 million at the break on Monday. Chartered fell 2.45 percent to S$4.78 in heavy volume of 7.1 million shares. The world's third-largest contract maker of computer chips posted a fourth-quarter net loss of $127.2 million compared with a profit of $77.4 million in the year-ago quarter, which was within the range of analyst forecasts. But the firm said it expected a net loss of $136 million to $139 million, or 98 cents to $1.00 per American Depositary Share for the March quarter. This was below loss estimates ranging between 82 cents and 93 cents per share forecast by seven analysts surveyed by researcher Thomson Financial/First Call.