JAPAN DATA: Semiconductor inventories showed a major.

JAPAN DATA: Semiconductor inventories showed a major fall in December,
down 9.6% m/m, posting the largest drop since -16.8% seen in January
2009, thanks to improvement in demand for chips and chip makers’ efforts
to reduce excessive inventories, an official at the Ministry of Economy,
Trade and Industry says. Output of semiconductors rose 7.1% m/m in
December, posting the largest gain since +8.7% seen in December 2009.