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

To: StanX Long who wrote (61975)	3/13/2002 12:35:23 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Taipei shares outlook - Lower on NASDAQ fall -- AFX - Asia, 3/13/2002 e-insite.net Share prices are expected to open lower, with sentiment undermined by overnight falls on the NASDAQ after disappointing updates from Lucent and Nokia, dealers said. Weakness in local semiconductor stocks yesterday, the Philadelphia Semiconductor index's decline overnight and falls in TSMC and UMC ADRs all could pressure the local electronics sector today despite institutional investors' extended position-building yesterday, they said. However, any correction in chipmakers may be limited by reports that TSMC and UMC will raise contract manufacturing price on DRAMs by 10-20 pct in the second quarter, they said. Yesterday, the weighted index closed down 73.72 points at 6,122.54 on turnover of 130.65 bln twd. Foreign institutions were net buyers of shares worth 1.89 bln twd, local investment trusts net buyers of 626.27 mln twd and brokers net buyers of 1.98 bln twd. "The NASDAQ weakness overnight came at a time when the local bourse already experienced profit-taking, suggesting pressure on the domestic market in early trade," ABN AMRO Assets Management assistant manger Jones Wang said. The disappointing updates from Nokia and Lucent lead may hit local cellular phone handset makers, he said.