Japan Hot Stocks-Asahi Glass

Asahi Glass Co Ltd up 2.58 percent at 677 yen after Deutsche Securities said it had reiterated its "buy" rating on Japan's top glass maker, saying a discussion with the company had reinforced their view that its earnings forecasts were conservative.The stock earlier hit a two-month high of 682 yen.

"In the flat panel display (FDP) business, the main driver of earnings this year, demand is so strong that Asahi Glass is turning down orders for TFT glass substrate," Deutsche analyst Shinya Yamada said in a note to clients.

"There are increasing signs of a glass business slowdown in Europe and the U.S., but business is stronger than anticipated in Asia, including Japan," he added.

600450 Japan Hot Stocks-Asahi Glass glassonweb.com
Date: 5 June 2003
Source: Forbes.com

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