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Korean stocks soar on Taiwan disaster

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Shares in Samsung Electronics, the world's biggest DRAM chipmaker, jumped 10 per cent today on the back of the Taiwan earthquake. Other Korean chipmakers and chemical companies which compete directly with Taiwanese counterparts, also gained on the news. "It's a terrible thing to say but what is a disaster for Taiwan is good for our chipmakers, our chemical firms and our stock market, a Korean broker told London paper The Standard. Sentimentality has little place in a stock market, but really... Only last week, Samsung revealed that it made $300 million in additional gross profits every time the DRAM price went up a dollar. DRAM prices could go up considerably higher, following the Taiwan earthquake. Although the island's chipmakers, which account for 12 per cent of the world's DRAM production escaped relatively unscathed, it will be days before production can switch back to anything like normal. First the power has to go back on and second, all the semiconductor equipment in the plants has to be re-aligned before it can be put back into use. ® Related stories Earthquake costs Taiwan semicon industry $300m Massive quake hits Taiwan DRAM price hikes to propel Samsung profit past $2bn

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