DEBORAH MARCHINI, CNN ANCHOR: Stock prices stabilized in Tokyo overnight. That's a good thing considering that market's recent performance. Michelle Han joins me now for a look at all the Asian trading. Hello, Michelle.</s>MICHELLE HAN, CNN CORRESPONDENT: Deborah, good morning. Tokyo stocks made slight gains after Wall Street's powerful rebound Tuesday help offset concerns over Japan's political problems. Gains in technology stocks helped the Nikkei add a fifth of a percent. The stock market could finally be getting some support from the government. Reuters reports that Japanese Prime Minister Yoshiro Mori has agreed to take steps to support shares prior to June's local elections. But economist say confusion over the timing of Mr. Mori's expected resignation is capping the market's upside. In Hong Kong, stocks ended weaker. Shares of blue chip New World Development plunged 12 percent after Goldman Sachs downgraded the stock to a market underperform. Investors also worried that the property firm's interim results due out on Thursday will disappoint. The Hang Seng index closed down 1.2 percent. And in Korea, stocks snapped a three-day losing streak after semiconductors got a boost from the Nasdaq's 4 percent rally. Chipmaker Hyundai Electronics rose 5 percent, helping the benchmark KOSPI finish 2.9 percent higher. Lastly, Japan's finance minister, Kiichi Miyazawa says he believes U.S. Treasury Secretary Paul O'Neill does not have any strong views on the yen's moves against the dollar. Following those remarks, the yen weakened to 119.66 against the greenback. And that's a wrap of the business day here in Asia. Back to you, Deborah.</s>MARCHINI: All right, Michelle, thank you.
Asian Markets Lifted by Wall Street Rebound