Chips looking healthier in 2002

NEWS European chip companies continued to gain this morning after good news from Korean semi conductor firm Hynix and the Semiconductor Industry (SMI) association kick-started a rally yesterday. Hynix added 14.41 per cent yesterday after it announced an increase in its chip prices by 30 per cent. Meanwhile the SMI forecast a 4.7 per cent increase in fourth quarter sales over the third quarter. In Europe this morning Infineon gained 4.23 per cent in early trading while STMicroelectronics added 2.34 per cent. In the US, ARM closed up 3.65 per cent and Intel closed up 4.93 per cent.