DEBORAH MARCHINI, CNN ANCHOR: Investors in Asia were inspired by Wall Street's big games Friday.</s>DAVID HAFFENREFFER, CNN ANCHOR: Michelle Han wraps up the day in Asian trading overnight from our studios now in Hong Kong -- Michelle.</s>MICHELLE HAN, CNN CORRESPONDENT: Thank you, David, Deborah. The Nasdaq's stunning rebound on Friday powered Asian markets on Monday, but analysts remain cautious about its staying power because of the Middle East tensions and jitters over U.S. corporate earnings. The Tokyo Nikkie average advanced more than 1 percent. Hong Kong's Hang Seng index climbed 2 percent, thanks in part to strength in tech and telecom stocks. But Pacific Century Cyberworks gave back its hefty gains and finished down more than 5 1/2 percent. The stock was suspended Friday when PCCW announced a deal with Australia's dominant telco, Telstra, an alliance that creates a pan- Asian Internet and wireless powerhouse. The bulls came back in full force in South Korea. The benchmark Kospi surged nearly 5 percent, led by share buybacks in giant -- in chip giant Samsung Electronics and in dominant carrier SK Telecom. But the bears stopped the bulls in Taiwan. A dizzying Monday session left the benchmark TaiX down more than 4 percent at a 20-month low despite help from government funds. Investor sentiment hurt deeply by price drops in D-RAM stocks and corporate earnings. And that wraps up the trading day here in Asian. Back to you both in New York.</s>HAFFENREFFER: All right, thank you very much, Michelle.
Friday's Nasdaq Rally Fuels Gains in Asian Markets