DEBORAH MARCHINI, CNN ANCHOR: Technology stocks dragged Asian markets lower across the board. Dalton Tanonaka joins me from our Hong Kong Bureau, with for the wrap-up of the action overseas -- Dalton.</s>DALTON TANONAKA, CNN CORRESPONDENT: Good morning, Deb. Intel's disappointing profits and earnings outlook rippled through Asia's major markets. Tokyo's Nikkei fell nearly 2 percent, to a four-month low, as investors dumped tech shares in the wake of Intel's results. Among major chip issues, Fujitsu lost 4.1 percent, while NEC slipped 2.6. Analysts say there is also pessimism over the lack of convincing government initiatives to revive the Japanese economy. Taiwan's electronics-dominated market was hit hardest by Wall Street's tech blues. The Taipei weighted index slumped nearly 3.5 percent to its lowest close in 7 1/2 years. Blue chips in Seoul mirrored sharp losses elsewhere in the region, the KOSPI finishing 1.5 percent weaker, at a three-month low. And Hong Kong's Hang Seng index slipped 0.5 percent as Intel's results sparked a 4 percent drop in China's leading computer maker, Legend Holdings. And blue chip Cathay Pacific tumbled 3.2 percent after the pilots union voted to continue a two-week long work-by-the- rule-book campaign. Despite this ongoing labor fight, Cathay says its operations are improving, with only five scheduled flights canceled on Wednesday. And that is the business day here in Asia. Back to you, Deb, in New York.</s>MARCHINI: Thank you so much, Dalton, Dalton Tanonaka, in our Hong Kong Bureau. TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Asian Market Update: Techs Drag Stocks Lower