Tech "drives" U.S. stocks Asia Pacific or "copy" rally

Every journalist Shaoyan this year, tech stocks have become a well-deserved pioneer in the rally. Although the stock index has warmed after the "rock bottom" of March 9 this year, only the tech-focused Nasdaq composite index has surpassed the overall economic trend.　　Led by semiconductor chips, computers and software development companies, the Nasdaq Composite Index has risen 15.49% this year, while the broader Dow Jones industrial average has fallen 3.75% per cent over the same period.　　But it is noteworthy that U.S. technology stocks have accumulated huge gains, so there is analysis that the Asia-Pacific stock market, represented by Japan's technology stocks will "copy" the rally. The reason for the scenery: the most sensitive semiconductor industry in the low leverage cycle technology stocks is the most prominent. For example, Intel's share price has risen by 64.71% since the start of the year 21.71%,AMD. In addition to the semiconductor industry, the shares of 153 Silicon Valley tech companies have achieved a 2-digit percentage increase. Apple's shares rose more than 60%, while Google and Yahoo's shares rose more than 30% per cent, and Oracle rose by more than 20%.　　Smartphone maker Palm even Hu Shen 400%.　　Some analysts believe that the reason the technology in the economic downturn in the bright eye, due to its low leverage level and better resistance to cyclical. Technology companies usually generate a lot of cash and less reliance on debt than financial and other industry companies. Even a crisis in the credit market could have a smaller impact on technology companies, one reason why the Nasdaq has performed better than the overall market since the collapse of Lehman Brothers last fall.　　In addition, analysts believe that the U.S. technology industry also has an important advantage is that their very big part of the operating income from overseas markets, which determines that it will be from the weak dollar exchange rate to gain additional benefits. At the same time, profit levels in sectors such as retailing, construction and finance will be affected by the poor employment rate, but this could actually benefit technology companies. Sungwonsohn, an economist at California State University Channel Is., said the last thing companies want to do is hire. Instead, they will choose to use high technology to boost productivity.　　Bulls in the market are bullish on technology stocks, mainly because infrastructure spending by governments to spur economic recovery will give technology companies global market demand. Tech executives have also expressed cautious optimism about the industry's prospects. "Most people say they will start spending more," said Oracle's co-CEO, Phillips, after meeting with the chief information officer of several technology companies. We will pay attention to this. "These bosses think they are going to go up the aisle and companies want to spend more in the second half of the year," said the Pacific Crown Securities software industry analyst. "The trend: the opportunity to move to Asia although the fundamentals of technology are still improving, the big early gains in US technology have deterred many investment giants. But the analysis that the dayThe Asia-Pacific stock market, represented by the technology stocks, still has room to rise. Bartels, head of the US bank's technology industry analyst, said tech stocks have been picking up since last November.　　This relatively strong performance stems from the fact that the profits of many technology companies exceed Wall Street expectations and gain additional impetus from the prospect of economic growth. However, in the face of a huge increase in US technology stocks, Morgan Stanley said: In the current strong rally in U.S. stocks technology, the bank has been selling, because its future performance report may not be enough to support the current share price. Morgan Stanley will wait for a pullback in the S & P 500 or a further improvement in the relative gains in technology stocks.　　Morgan Stanley also said the largest share of Morgan Stanley's portfolio model in Japan was information technology, as Japanese stocks were far below their historical average. Hong Kong's technology stocks have also risen this year, but their valuations are still well below those of U.S. stocks, and there is still room for a 30% rise in the future. Yangqingli, international managing director of Bank of Silver, said to the daily economic news, such as Tencent Holdings, Kingsoft Software, the first video and the concept of online games, and so on, although there has been a more obvious rise, but because of its good fundamentals, there is still room for growth in the future.