ALLAN CHERNOFF, CNN ANCHOR: Now, let's head over to Hong Kong -- Dalton Tanonaka standing by for an update on Asian markets -- Dalton.</s>DALTON TANONAKA, CNN CORRESPONDENT: Hi, good morning, Allan. A three-session losing streak was snapped in Tokyo, as investors there went hunting for bargains in the tech sector. The Nikkei 225 rose .8 percent, but bank stocks, such as Mizuho, extended recent loses, and that cast a cloud over the overall market. Japan's dominant fixed-line carrier, NTT, touched an eight-year low in intraday trading but recovered slightly to finish 2.3 percent weaker. Adding to the tech sector's recent problems, a weak debut for Japan's first tracking stock, Sony Communication Network. That Sony unit operates Internet Service Provider SONET. It saw its share price close 10 percent below its initial offer price. Hong Kong's Hang Seng index dropped 1.6 percent. Analysts say investors were dismayed by the failure of the U.S. Nasdaq to rise, after software vendor Oracle posted upbeat earnings late Monday. Losers included telecom firm Pacific Century Cyberworks. It tumbled 4 percent. And Seoul's KOSPI fell more than 2 percent on weakness on chip- making giants, Samsung Electronics and Hynic Semiconductor. Investors sold those shares after market research firm IC Insights forecast global chip sales would fall as much as 28 percent this year, making it the worst year-on-year slump in the industry's history. And that is the business day here in Asia at 6:09 in our afternoon. Back to you, Allan, in New York.</s>CHERNOFF: OK, thank you very much, Dalton. TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Losing Streak Snapped in Tokyo Markets