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To: Elwood P. Dowd who wrote (449)	5/16/2002 10:47:16 PM
From: Elwood P. Dowd	Respond to of 4345

Nikkei gains on chip data Stocks in Japan rise on strong semiconductor orders in April. May 16, 2002: 8:15 PM EDT TOKYO (Reuters) - Tokyo stocks opened higher Friday with investors likely picking up tech issues after data showed uNorth American makers of chip equipment recorded an increase in orders for the fifth straight month. The Nikkei climbed 97.09 points, or 0.83 percent, to 11835.78 in early trading. The April data by Semiconductor Equipment and Materials International represents a book-to-bill ratio of 1.20, meaning that $120 worth of new orders were received for every $100 of products shipped. A ratio above 1.0 suggests the industry may be strengthening. "High-tech issues are likely to be cheered up by the data," said Yutaka Miura, deputy manager of Shinko Securities' equity information section. "The market's basic momentum will be kept since the Nikkei passed through an April high yesterday and now its March high is in sight." The benchmark Nikkei average ended at 11,919.30 March 11, the highest close since August last year.