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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Cary Salsberg who wrote (6561)	10/31/2002 1:30:12 AM
From: StanX Long	Read Replies (1) \| Respond to of 95536

Taiwan stocks end up on tech gains, uptrend seen sg.biz.yahoo.com TAIPEI, Oct 31 (Reuters) - Taiwan stocks closed up nearly two percent on Thursday after two sessions of losses as heavily weighted microchip shares like TSMC tracked U.S. peers higher, while there were few negative surprises in third-quarter corporate results. The main TAIEX index rose as much as 2.37 percent before ending up 1.79 percent at 4,579.14, recouping most of the two percent fall over the previous two sessions that dented a nearly 20 percent rally over the past two weeks. "Gains in U.S. semiconductor shares boosted sentiment, while Taiwan firms' third-quarter results mostly met expectations," said Michael On, managing director at Beyond Asset Management. Thursday was the deadline for Taiwan's listed firms to unveil third-quarter results, most of which were relatively weak, but met the market's discounted expectations. On said the index could slowly test 6,000 in the coming months. The electronics sub-index gained 2.13 percent, while the banking and insurance sub-index , second only to techs in weighting, was up 0.44 percent. Taiwan Semiconductor Manufacturing Co (TSMC), the world's largest contract chipmaker, rose 2.2 percent to T$46.50. The chief executive of International Business Machines (IBM) said on Wednesday he had seen some signs the U.S. economy had hit bottom or flattened out, but added that the technology sector had its own problems. IBM rose 2.51 percent, helping the Dow Jones industrial average gain 0.70 percent, the tech-laced Nasdaq increase 2.01 percent and the Philadelphia semiconductor index surge 6.57 percent. Taiwan investors often look first to Wall Street for buying tips as many Taiwanese electronic companies supply large U.S. brand names. However, turnover was modest at T$94.49 billion, though up from Wednesday's T$80.08 billion, reflecting continuing concerns about the U.S. economy, which buys almost a third of the island's exports. (US$ = T$34.9)