HP Lifts Asian Tech Stocks
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The dollar hovered above 7-month lows  against the yen, pressuring shares in Japanese exporters, but  stocks elsewhere in Asia neared a 5-year high as upbeat  earnings from Hewlett-Packard boosted tech stocks.
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(InfoWorld) - Shares of Asian PC makers are finally shaking off their summer doldrums as back-to-school sales give them a boost and the upcoming launch of Microsoft's new Vista OS improves their longer term prospects. A buying binge on stock of Taiwanese PC maker Acer started early this week after it was upgraded by Merrill Lynch & Co.Â and a few other large investment banks. The firms noted that after sluggish sales in the first half of the year,Â demand for PCs is on the rise. TheÂ microprocessor price warÂ between Intel and Advanced Micro DevicesÂ (AMD) saw the price on some desktop chips halved, lifting PC demand, analysts say. Microsoft's new OS is expected to come out on time and give the PC market an additional long term boost. "The PC replacement cycle should take place gradually following Microsoftâs launch of its new operating system, Vista, in the first half of 2007," said Daniel Chang, computer industry analyst at Macquarie Research Equities, in a report on Thursday. Acer's shares were also boosted this week after it reported a better-than-expected 36 percent increase in second quarter net profit to NT$3.08 billion (US$93.59 million). It's shares ended up 25 percent for the week, at NT$53.5, on the Taiwan Stock Exchange. Acer's main rival in Asia, Lenovo Group, also saw its stock rise. The company'sÂ U.S.-listed shares increasedÂ 11.2 percent to US$8.45 for this week, as of its close on Thursday. By comparison, Dell and Hewlett-Packard have been laggards. Dell shares are up 3.9 percent so far this week to end at US$22.60 on Thursday, while HP had gained 3.8 percent to US$36.56 over the same time. One reason for the difference in share performance is that Acer and Lenovo stock fell further this year than their U.S. rivals due to PC market concerns andÂ company-specific issues, analysts say, so it's no surprise the rebound has lifted them higher. Another reason Dell and HP have underperformed their Asian peers recently is because U.S. investors are concerned about the economy, including consumer demand and the likelihood of further interest rate increases. Although very little conclusive data is out for U.S. PC sales right now, analysts say demand in Asia is strong, and Europe is heating up. Henry King, executive director of technology research for Goldman Sachs (Asia), noted in a report on Wednesday that strong PC component demand in Europe over the past few weeks should help allay concerns over possible U.S. weakness. "Besides, we expect more Europeans to come back from summer vacations in the next few weeks, so sell thru data is likely to continue to trend up in September," King said. Another factor hurting shares of PC makers this year has been cutthroat price competition. But stronger market demand should ease price competition, analysts say, as should lower costs for microprocessors. In short, the seasonal demand from back-to-school and back-from-vacation sales going on now should extend for quite a while as users continue buying when Vista launches. The strong, steady demand should allow PC makers to charge reasonable prices, increasing their profit margins and making investors happy.
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Tech stocks such as flat-screen maker  LG.Philips drove Asian markets higher on Monday, while optimism  about the Japanese economy lifted Tokyo shares and kept the yen  at a five-year high against the dollar.
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Hewlett-Packard Co.&#39;s shares rose more than 4 percent Wednesday as investors reacted to its report a day earlier that earnings rose 26.5 percent in the fourth quarter, led by record revenue growth across all of the computer giant&#39;s business units
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Japanese stocks rebounded on Thursday  from a three-week low as beaten-down technology stocks were  buoyed by gains in their U.S. peers and as the yen resumed its  slide against the dollar, boosting shares of major exporters.
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Hewlett-Packard Co.  on Wednesday posted a slight rise in quarterly profit, fueled by revenue gains across all of its businesses, and its shares rose more than 2 percent in after-hours trade.
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Asian stocks were mostly higher on  Monday, led by electronics and telecoms firms, while oil  extended gains and the dollar edged up ahead of an expected  U.S. Federal Reserve interest rate rise on Tuesday.
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MUMBAI: Asian markets were up in early trades on Friday. While Tokyo Nikkei gained 119.90 points at 10966.22, Hong Kong&#39;s Hang Seng index was up 147.
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Stocks climbed on Friday, with gains  on all three major indexes topping 1 percent, as strong results  from Research in Motion lifted the technology sector while a  report of another overseas investment in a U.S. investment bank  boosted financial stocks.
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Stocks rose on Wednesday after news  of an $11.5 billion retailing deal and solid earnings from  computer maker Hewlett-Packard Co. HPQ.N, but a rise in oil  prices caused stocks to trim gains.
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Stocks climbed on Friday, with gains on all three major indexes topping 1 percent, as strong results from Research in Motion lifted the technology sector while a report of another overseas investment in a U.S. investment bank boosted financial stocks.
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Asian shares rose on Thursday, led by exporters such as Honda and Samsung and resource stocks, after upbeat U.S. growth data eased worries about the health of the economy in Asia's biggest export market.
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Strength in tech stocks and steelmakers offset the drag of renewed dollar weakness on Asian share markets on Thursday, while gold hit a new 16-1/4-year high and oil moved back up toward &#36;50 a barrel.
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Shares in tech bellwethers Intel Corp. and Yahoo Inc. rose in after-hours trade on upbeat earnings reports, driving Asian shares higher Wednesday as oil prices retreated from record highs.
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Tokyo stocks gained moderately Tuesday morning as investors purchased technology stocks. The dollar was trading higher against the Japanese yen.
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Stocks rose on Thursday, with technology shares gaining after reassuring results from Oracle Corp  and a higher earnings outlook from Qualcomm Inc .
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Asian stocks rose on Monday, gaining  1 percent as Microsoft Corp's audaciousbid for Yahoo Inc and  China's purchase of a largestake in takeover target Rio Tinto  boosted optimism over share valuations.