DAVID HAFFENREFFER, CNN ANCHOR: Well, many stocks in Asia did fail to hold onto some strong gains.</s>DEBORAH MARCHINI, CNN ANCHOR: Now Lorraine Hahn wraps up the day in Asian trading from our studios in Hong Kong. Hi, Lorraine.</s>LORRAINE HAHN, CNN CORRESPONDENT: Thank you very much, Deborah, David. And thank you, Alan Greenspan. Asian markets took Greenspan's positive comments to heart Friday. Although profit-taking later in the day saw some markets unable to hold onto their gains. Stocks in Tokyo slipped into the red. High-tech stocks surprisingly unresponsive to a jump by their Nasdaq counterparts. Infotech giants like Sony dropped 2.5 percent. Softbank, which usually benefits from a Nasdaq rise, fell more than three percent on retail selling, as well as media reports that its president, Masayoshi Son, had paid an extra $279 million in taxes after being questioned about a house he was provided with. Masayoshi Son is ranked the 16th biggest taxpayer in Japan last year, forking out more than $5 1/2 million in taxes. Now traders say the G-7 -- G-8 summit this weekend will mostly focus on political and diplomatic issues and is unlikely to move the stock market come Monday. The Nikkei index closes this week down one percent. Moving to Hong Kong, where the market here spiked above the psychological 18,000 point mark for the first time in four months during the day. But it sank back later. Investors convinced the U.S. Fed is done with raising interest rates, at least this year. Banks and property counters showing gains. HSBC, for example, rose 1 1/2 percent, The Hang Seng index picking up almost one percent. In South Korea, the market there rose half a percent after a better than expected 137 percent jump in Samsung Electronics' earnings for the first half of this year. And that's a quick check from me. Have a great weekend, both of you, we'll see you Monday.</s>MARCHINI: Thank you, Lorraine, looking forward to it.
Asian Markets Rally on Greenspan Comments; Late Profit-Taking Sheds Gains