DEBORAH MARCHINI, CNN ANCHOR: Markets in Tokyo were best described as flat. Taiwan stocks, though, hit a seven-year low. Dalton Tanonaka is in our Hong Kong Bureau, with a wrap of the Asian market. Hello -- Dalton.</s>DALTON TANONAKA, CNN CORRESPONDENT: Good morning, Deborah. Tokyo's trading week got off to a quiet start, with many investors there awaiting the release of U.S. corporate earnings from the likes of Intel and IBM. The 225-share Nikkei closed down a tenth of one percent, with turnover dropping to $3.4 billion, and that's the lowest so far this year. Select stocks, such as the country's biggest brewery, Kirin, rolls on hopes for strong sales, as more consumers drink beer to beat the summer heat. Kirin closed up 3.5 percent. The mood was more gloomy in Taipei, where the weighted index slumped 2.6 percent, to a seven-year low. Analysts say the Monday tumble came as a surprise and shows how deeply investors are worried about the slowing domestic economy. The index had fallen 3 percent on Friday, after the island's top research institute cut its growth forecast for this year by more than half. Hong Kong's Hang Seng index finished a fraction higher, with no clear direction from overseas equity markets. Blue chip Cathay Pacific Airways outperformed, with a gain of 2.8 percent. The SER's flagship carrier said operations are "essentially back to normal, despite two weeks of an ongoing labor fight with its pilots." And that's the business day here in Asia. Back to you, Deb, in New York.</s>MARCHINI: Thank you, 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: Taiwan Hits Seven-Year Low