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Upbeat Intel results power Asian stocks

Wednesday 14th July 2010

 

Asian stocks powered to a three week high today, lead by gains in technology after Intel announced results beating expectations.

Intel’s second quarter earnings beat analyst expectations by far and quashed fears that companies are slowing down on their technology spending. Samsung rose 3.5% and chipmaker TSMC rose 1.3% as the Asian stocks powered ahead. Japan’s Nikkei rose 2.71% and Hong Kong’s Hang Seng gained 0.64%.

The upbeat mood in Asia outweighed concern over a downgrade of Portugal’s sovereign credit rating by Moody’s.

Buoyed by gains in tech stocks, South Korea’s benchmark share index hit its highest intraday levels in more than two years and Taiwan stocks rose to a two-month high. Both were up more than 1%.

If you are interested in investing your money within technology stocks and funds, please contact us for more information.

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