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Monday, February 2, 2009

Lunar New Year is over – get back to work!

Lunar New Year festivities are winding down and Asia heads back to work today.

The China Ministry of Commerce said retail sales rose 13.8% y/y from the equivalent holiday week a year ago.  Last year’s Lunar New Year was disrupted by a huge snow storm and the year ago comp was unusually weak.

According to DRAMexchange, DRAM part spot prices are up 10-25% since their last quote a week ago.  Qimonda’s insolvency filing is cited as the source of the strength.  DRAM shares in Taiwan rallied further on hopes that industry capacity cutbacks will alleviate the industry’s oversupply.

NAND spot prices rose a more moderate 3-5% since their last quotes.

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