Market Report - Tech Buying Up

In today's market report... Asian PC and technology firms were up, cheered by predictions of rising shipments and increased spending.

Tech firms such as Sony and Toshiba gained, uped by Intel comments that aging PCs and the launch of Microsoft's Windows 7 would boost sector spending.

Japanese exporters were strengthened as the yen eased, and a weekend G20 meeting was held where top finance ministers kept stimulus policy steady.

In Taiwan, world No.2 contract PC maker Compal gained on strong shipment forecasts for the year, seen up 20 percent.

Seoul's KOSPI was supported by Hynix Semiconductor, the world's No. 2 memory chip maker, accepting bids for a $2.8 billion stake in the firm.

While in Singapore, Abu Dhabi's state fund offered to buy Chartered Semiconductor for $1.8 billion, whose chips are used in Microsoft's Xbox 360 console.

Finally, China's No.2 wireless player, China Unicom, gained after reaching an alliance deal with Spain's Telefonica.

Category:

News & Politics

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• Sony
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• Microsoft