Affected by the global financial crisis and high inventory levels at clients, the global semiconductor industry will remain weak in the first quarter of 2009 before seeing a rebound in the second quarter, according to Credit Suisse speaking at an investors forum held recently in Taipei. Due to the low visibility of market demand, semiconductor makers are expected to continue to cut capital expenditure (capex) in 2009 following a reduction of 20-30% in 2008 as compared to the levels seen in 2007, said the investment bank.

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