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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: LTK007 who wrote (54105)	4/22/2002 6:15:07 AM
From: LTK007	Respond to of 99280

<<Wave of Tech Optimism Carries Asian Stocks Up they are as bad as us in going goofie on any crumb of data for a recovery in tech----but this could roll right into NASDAQ for today--as the ever wildly played SOXX could well be hot today, as NO sector perhaps is played more furiously by shorterm money--max Mon Apr 22, 4:22 AM ET By Clarence Fernandez SINGAPORE (Reuters) - Flickers of optimism over prospects for the technology sector drove up Asian stock markets Monday as Japanese investors grabbed high-tech shares on hopes a recovery is round the corner. A $3.4 billion deal to reshape the global memory market is on the cards after U.S.-based Micron Technology Inc said it has signed a memorandum of understanding to buy the seven production lines of South Korea (news - web sites)'s Hynix Semiconductor Inc. Foreign investors pushed Taiwan shares to a 19-month high, while worries over Argentina weighed down Hong Kong stocks, and NewsCorp, attuned to the U.S. economy, buoyed shares in Australia. Oil prices kicked off the week in positive territory with attention centerd on U.S. fuel stockpiles and the standoff between Israel and the Palestinians. U.S. light crude rose 27 cents in Asia to $26.65 a barrel, extending Friday's 20-cent gain in New York. The dollar drifted to 130.10 yen in Asia from 130.31 in late Friday trade in New York, drawing scant inspiration from a Group of Seven meeting, which barely touched on currency matters. The euro was holding at $0.8890 in late trade from $0.8920. In Tokyo, the benchmark Nikkei rose 1.82 percent to end at a five-week high of 11,721.64, in a market led higher by core technology issues amid fast-growing hopes that their profits will recover strongly this business year. Optimism was fueled by a weekend newspaper report estimating a strong turnaround in NEC Corp's earnings for the year that began this month and an upbeat capital spending plan by South Korea's Samsung Electronics Co Ltd, the world's largest maker of memory chips. "News of a boost in Samsung's capital spending, in particular, attracted attention," said Norihiro Fujito, senior strategist at Kokusai Securities