| To: StanX Long who wrote (60937) | 2/25/2002 3:35:19 AM | | From: StanX Long | | | | Hitachi expected to miss earnings targets
sg.biz.yahoo.com
Monday February 25, 3:59 PM
TOKYO (Reuters) - Hitachi Ltd, Japan's largest electronics maker, will likely miss earnings targets for the current year through March, as slack demand for communications and industrial equipment adds to its woes, analysts and media said.
The Nihon Keizai Shimbun business daily said over the weekend that Hitachi's net loss in the year to March 31 would exceed 300 billion yen ($2.24 billion), surpassing the company's latest official forecast in October of a loss of 230 billion yen.
Hitachi, like Japan's four other chipmaking conglomerates, was hit hard by last year's slump in the semiconductor industry.
The chip sector has since shown signs of bottoming out, but the conglomerates are being hit by a further slowdown in spending on telecommunications infrastructure and industrial equipment, especially in the sluggish domestic market.
The report did not surprise the market, which had braced for further bad news from Japan's chip and industrial electronics firms after Toshiba Corp <6502>, NEC Corp <6701> and Fujitsu Ltd <6702> raised 2001/02 loss forecasts in late January.
Hitachi's shares closed up 0.50 percent at 808 yen, outperforming a 0.58 percent fall in the benchmark Nikkei average.
The Nihon Keizai also said Hitachi's 2001/02 consolidated operating loss, estimated in October at 30 billion yen, would likely be close to 100 billion yen, its worst ever. |
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| To: StanX Long who wrote (60938) | 2/25/2002 3:41:42 AM | | From: StanX Long | | | | Hong Kong stocks fall as local economy woes drag
Monday February 25, 1:43 PM
sg.news.yahoo.com
HONG KONG (Reuters) - Hong Kong stocks were down by midday on Monday as worries over the sputtering local economy erased initial gains following a modest rise on Wall Street.
The benchmark Hang Seng Index was down 1.62 percent at 10,491.84 by the midday break, extending a 2.71 percent fall last week. The index had opened fractionally higher.
Shares of global banking giant HSBC Holdings, the largest HSI constituent, slid 0.58 percent to HK$85.25 following the release of worse than expected Hong Kong economic data last week.
Nearly 38 percent of HSBC's pre-tax profit in 2000 came from Hong Kong, which is teetering on the brink of its second recession in four years.
"People are also worried about HSBC's corporate results next week which could show increasing levels of bad debts in Hong Kong," said Eric Wong, market strategist at Dao Heng Securities.
Results by HSBC's global rival Standard Chartered , which also derives a substantial portion of its revenues from Hong Kong, showed a sharp increase in bad debt levels, providing an indication of what to expect when HSBC's own full year results come out next week. Analysts on average are expecting the bank to post an 18 percent drop in 2001 earnings. |
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| To: StanX Long who wrote (60939) | 2/25/2002 3:56:38 AM | | From: StanX Long | | | | Taiwan economy turns a healthier shade in January
By The China Post staff
sg.news.yahoo.com
Monday February 25, 12:00 AM
Taiwan's economy started to show a turnaround in the month of January, according to statistics put together by the Council for Economic Planning and Development (CEPD).
The color-coded indicators compiled by the council gave off a "yellow-blue" reading for January, up from the "blue-yellow" reading for the month of December.
The indicator is designed to take the pulse of the economy and uses a range of colors, from blue to red, to reflect how "hot" it is during a particular month.
CEPD officials said that January's improvement came largely from increases in both prices and turnover volumes in the nation's stock market and other financial indicators, including money supply.
However, they also noted that the only material indicator showing signs of improvement in January was the one tracking exports. |
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| To: StanX Long who wrote (60940) | 2/25/2002 3:59:36 AM | | From: StanX Long | | | | Singapore says unemployment may hit six percent
sg.news.yahoo.com
Monday February 25, 10:34 AM
SINGAPORE (Reuters) - Unemployment in Singapore will worsen and may hit six percent before the economy recovers later this year, The Straits Times reported on Monday.
"What we will see from the employment situation is that it will get worse before it gets better," the paper quoted Minister of State for Education and Manpower Ng Eng Hen speaking at a Lunar New Year celebration.
Preliminary estimates show that Singapore's seasonally adjusted unemployment rate rose to a 15-year high of 4.7 percent in December last year from 3.8 percent in September.
Ng described the unemployment rate of 5.3 percent for Singapore's resident population of about three million as "already quite high" adding the last such job squeeze was 17-years ago in 1985. |
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| To: Alex MG who wrote (60943) | 2/25/2002 12:48:10 PM | | From: advocatedevil | | | | Yeah, I'm "still hanging" with my short play (hangin' with a rope around my neck that is!). I was just tryin' to have some fun this morning and those darn semi bulls decided to crash the party. I hope they don't keep things tied up for too long. Good luck with your trade Alex.
AdvocateDevil |
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| To: Lone Star who wrote (60945) | 2/25/2002 1:08:34 PM | | From: advocatedevil | | | | Lone Star, according to an RS conference schedule I ran across, NVLS is set for Tuesday at 12:30 ET, KLAC is set for Wednesday at 12:30 ET and AMAT is set for Wednesday at 19:00 ET.
AdvocateDevil |
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