Asian Markets—Asian investors bought regional chipmakers today, after giant Hynix Semiconductor said it expected a DRAM chip shortage next year.
South Korea's Hynix made its first profit in eight quarters. It says memory prices will continue to recover next month and it has a positive outlook for 2010.
The world’s number two memory chip maker made over $200 million in the last quarter, while rival Samsung has forecast better profits as engineering advances have allowed them to cut costs.
After a 2-year slump, Hynix shares have nearly tripled in value this year, compared to a 45 percent gain for the benchmark KOSPI index.
In Japan and Singapore, investors bought chipmakers on the tight supply prospects.
Hopes about the global economy also pushed up metals and energy prices, with gold near $1,060 an ounce and oil edging above $81 a barrel.
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