Moody's: Asia Pacific technology weak

Moody's Investors Service said it assigned a negative outlook for Asia Pacific's technology and semiconductor sectors over the next 12 to 18 months.

The outlook reflects the pressures apparent on profitability due to the severe downturn in prices for digital random access memory chips and NAND flash memory, Moody's said.

The medium-term outlook for the industry is mixed and the agency said it does not foresee any meaningful recovery until well into 2009 given current and projected oversupply and price weakness.

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