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

To: StanX Long who wrote (60591)	2/15/2002 3:16:53 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Straits Times Index dips as techs come under pressure Friday February 15, 2:10 PM sg.news.yahoo.com SINGAPORE (Reuters) - Singapore shares remained soft by the lunch break on Friday as technology stocks came under pressure, but property stocks held up well on hopes a recovery in the recession-hit economy could boost home sales. The Straits Times Index eased 0.41 percent or 7.23 points to 1,767.40 by the midday break. The dip followed 3.3 percent gains over the past three sessions. Since the start of the year, the STI has risen nine percent. In the broader market, losers beat gainers 144 to 66, with 133 issues unchanged. Volume was moderate at 212 million shares. Property stocks rose broadly, led by City Developments and CapitaLand as investors bet they would report better results this year as the economy recovered. CityDev rose 3.05 percent to S$6.75 and CapitaLand added 1.52 percent to S$2.00 in moderate volumes. Analysts said investors had largely discounted a bad 2001 for property firms hit by heavy provisions as asset values fell. Computer peripherals maker Creative Technology lost three percent to S$22.60, falling below its U.S. closing price of US$12.50. Traders said Creative's drop came after U.S. graphics chip firm NVidia Corp said it would conduct an internal review following a U.S. Securities and Exchange Commission inquiry. Creative is reported to hold a 4.5 percent stake in NVidia.