Stocks edge up in Japan and S Korea this week

Computer-related rose this week, led by Tokyo Electron Ltd and Samsung Electronics Co, after earnings at Intel Corp and other US companies beat some analysts' estimates.

"Good corporate earning results from the US are certainly going to have a positive influence on the technology stocks here," said Fumiyasu Sato, who helps manage the equivalent of US$1.2 billion in Japanese equities at CDC IXIS Asset Management Japan Co. "Worries about their growth prospects are easing."

Japan's Nikkei 225 Stock Average advanced for the first week in three, gaining 0.7 percent. The KOSPI index in South Korea rose 7.2 percent, its third weekly gain.

Carmakers rely on US demand, such as Toyota Motor Corp and Hyundai Motor Co, gained after a rally by US stock benchmarks boosted optimism that consumer confidence in their largest overseas market may improve.

Benchmarks Hong Kong and Singapore ended the week lower as a deadly respiratory disease dented confidence. Sun Hung Kai Properties Ltd led declines after the South China Morning Post said Hong Kong developers are cutting prices as fear the disease is spreading kept people from viewing apartments.

Singapore Airlines Ltd slid after the Business Times said the carrier may cut workers if severe acute respiratory syndrome, or SARS, continues to damp travel demand.

Markets Australia, New Zealand, Hong Kong, Singapore, Indonesia, Philippines, India, the US and Europe were shut for public holidays yesterday.

Tokyo Electron, the world's second-largest maker of semiconductor production equipment, rose 7.8 percent to Japanese Yen 4,560.

The company had its biggest weekly gain since the five days ended Nov. 29, 2002. Rohm Co, a maker of custom chips, gained 10 percent for the week, it's biggest weekly rally since the five days ended Oct. 18, 2002. Shares of both companies were among the seven biggest contributors to the weekly gain in the TOPIX index, which rose 1.1 percent for the period.

Samsung Electronics, which claimed the No. 2 spot in chip sales behind Intel last year, surged 11 percent this week and was the biggest booster to the KOSPI. The company said it expects to sell more chips and flat screens this quarter. Taiwan Semiconductor Manufacturing Co (台灣積體電路公司), the world's largest supplier of made-to-order chips, rose 6 percent this week.

Toshiba Corp, which said it will develop software with IBM, added 5.9 percent this week.