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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets! -- Ignore unavailable to you. Want to Upgrade?

To: spiny norman who wrote (5321)	5/7/1998 8:11:00 AM
From: MikeM54321	Respond to of 10921

Here's a little good news about Asia for a change. But Intel did start this plant BEFORE the crisis. So they didn't have much choice but to complete it. But it's still a vote of confidence, nonetheless. China's support of it's own currency is critical to success of all the Tigers. So far China has been firm about no devaluation. >>Intel Corp on Thursday officially opened a $198 million flash memory chip plant in Shanghai in what company officials said was a vote of confidence in China despite the Asian financial crisis...Officials of the U.S. semiconductor giant said the facility, its first manufacturing operation in China, highlighted Intel's long-term commitment to the country. "The significance of this plant is that it represents another major step in our activities in China," Intel chairman Andrew Grove said at the opening ceremony. "We have a profound belief in the significance of China both as a market for information technology products and as a contributor to the development of information technology," he said. Company officials declined to give planned output, but said the Pudong plant would export the bulk of its products...Chinese officials said the Intel plant and a joint venture between Japan's NEC Corp and a Chinese company to produce semiconductors, scheduled to start production next year, would help push forward Shanghai's economic development. Shanghai officials have expressed fears the Asian financial crisis would slow foreign investment in the city this year and dampen export growth. But Intel officials said they saw bright prospects for the future. "We're really here for the long term, so I think the crisis we've been going through in Asia is going to be a passing thing," Jarrett said. "China, as an area of consumption for our products, has proved to be quite solid throughout all of this," he said. Intel started building the plant in December 1996 and the facility went into production in January this year, the company said in a statement...The finished product is exported around the world, company officials said...<< MikeM(From Florida) PS1 spiny, I understand what you are saying. But currencies generally follow indicies because of "confidence." Plus, if rioting continues, I'm sure currency will follow at some point. PS2 Indonesia closed up 5.34% for a nice change.