Bloomberg News

Elpida Memory Shares Rise in Tokyo on Chip-Industry Outlook

January 23, 2012

(Updates with comment from analyst in fourth paragraph.)

Jan. 23 (Bloomberg) -- Elpida Memory Inc., the Japanese chipmaker, rose to the highest in more than two weeks in Tokyo trading after chip-related companies including ASML Holding NV said industry orders may increase.

Elpida rose to as much as 368 yen, the highest level for the Tokyo-based company since Jan. 5, and traded 6.1 percent higher at 366 yen as of 10:28 a.m. Japan’s benchmark Nikkei 225 Stock Average advanced 0.3 percent.

Investor sentiment on the chip industry improved as ASML, Europe’s biggest maker of semiconductor equipment, and Taiwan Semiconductor Manufacturing Co., the world’s largest contract manufacturer of chips, predicted a rebound in demand last week.

“Their announcements have been boosting optimism for the chip sector,” Toshihiko Matsuno, senior strategist at SMBC Friend Securities Co. in Tokyo, said today by phone.

--Editors: Terje Langeland, Robert Fenner

To contact the reporter on this story: Naoko Fujimura in Tokyo at nfujimura@bloomberg.net

To contact the editor responsible for this story: Anand Krishnamoorthy at anandk@bloomberg.net


Ebola Rising
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus