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

To: StanX Long who wrote (64085)	5/30/2002 1:08:50 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Asian Stocks Fall as Tokyo Electron, Samsung Electronics Slide By Michael Tsang quote.bloomberg.com Tokyo, May 30 (Bloomberg) -- Asian stocks fell, as Tokyo Electron Ltd. and other computer-related shares tracked U.S. rivals lower after Novellus Systems Inc. didn't provide an earnings forecast for this year, disappointing investors. Japan's Nikkei 225 stock average slumped 1.1 percent, while Samsung Electronics Co. dragged down South Korea's Kospi Index 2.1 percent. Concerns an economic recovery in the U.S. may be too weak to lift corporate profit and boost spending on computer-related products also sent Singapore's Straits Times Index 0.4 percent lower. ``Investors are reluctant to buy computer-related stocks at the moment since we're starting to see that profit recovery in the industry may not come until the third or fourth quarter this year, longer than what many investors had expected,'' said Shigemi Nonaka, chairman of Polestar Investment Management Co., which manages $36 million. Investors are questioning whether the makers of computers and other products that use chips are seeing an increase in demand, as stocks in Asia have rallied on expectations a recovery in the U.S., their largest export market, will boost orders. U.S.-based Novellus, a maker of chip-wafer fabrication systems, yesterday declined to comment on the outlook for the second half of the year, a week after Goldman, Sachs & Co. said demand for semiconductor equipment may weaken. That sent the Philadelphia Semiconductor Index, a price- weighted index of 16 companies involved in the design and production of chips, down 12 percent in the past eight days.