Market Report – Asian Techs Firm
Saturday, March 6th, 2010
In todays market report Asian technology shares were up, cheered by Wall Street and strong earnings from U.S. peers.
Regional benchmarks mostly were flat to lower, but chip-related shares like Tokyo Electron gained after a bullish outlook from flash memory maker SanDisk.
Korean chipmakers like Samsung Electronics and Hynix Semiconductor rose, while in Taiwan PC-makers gained on Dell’s record quarterly net profit.
On the downside, Japanese automakers dipped on the stronger yen, despite news that General Motors would recall 1.3 million vehicles to fix a power steering problem
GM said the recall, coming in the wake of Toyota’s massive 8 million vehicle action, covers cars linked to 14 crashes and one injury.
Australia’s central bank hiked its cash rate by 25 basis points, flagging further hikes ahead after a strong economic recovery.
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