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DRAM gain stirs Asian chip stock rally

Posted: 05 Jun 2007 ?? ?Print Version ?Bookmark and Share

Keywords:DRAM prices? Asian chipmakers? DRAMeXchange?

A rebound in memory chip prices set off a chip stock rally in Asia late last week, according to Reuters. The report said the DRAMeXchange Website recorded a five-percent jump in DRAM prices in the spot market on Thursday, stirring a jump in Asian chipmakers the next day.

South Korea's Samsung Electronics Co. Ltd rose as much as 4.5 percent to close 3.9 percent to $599, the top DRAM chipmaker's biggest one-day percentage rise since August 2006.

No. 2 Hynix Semiconductor Inc. posted its biggest daily gain since June 2006, jumping 5.4 percent to $32.64.

Japan also saw strong gains, with Elpida Memory Inc. ending up 5.8 percent at $43.24.

In Taiwan, Nanya Technology Corp. and ProMOS Technologies Inc. also posted gains Thursday but were slightly down on Friday.

"The bottom in prices is almost there. The question is whether we are going to see an uptrend from now on," Jae H. Lee, an analyst at Daiwa Institute of Research, was quoted as saying. He predicted a short-term rebound, noting the continuing inventory glut. "If inventories are decreasing then that would support price increases," Lee said.

Some key chips have witnessed a more than 70 percent tumble in prices since January.

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