DEBORAH MARCHINI, CNN ANCHOR: Major Asian markets fell on this session. I am joined by Dalton Tanonaka, live from our Hong Kong bureau. He's got the latest action. Hi -- Dalton.</s>DALTON TANONAKA, CNN CORRESPONDENT: Yes, hi, Deborah. Wall Street's big overnight rally failed to inspire Asian markets much. Investors in Tokyo opted to cash in after major gains in the tech sector on Thursday. The 225 share Nikkei slipped 0.4 percent, weighed down by losses in number three mobile phone maker, Matsushita Communication Industrial and Advantest, the top maker of chip-testing machines. Market sentiment was also hurt by the Bank of Japan's decision in the early afternoon not to change monetary policy despite calls from politicians for further easing. Taipei's weighted index gave up early gains and tumbled more than 3 percent, to close at a seven-year low. Investors took profits after Taiwan's top think tank cut the island's economic growth forecast by more than half. State-funded Academia Sinica revised its 2001 estimate to 2.38 percent, from an original 5.21 percent. Hong Kong's Hang Seng finished 0.33 percent weaker. Analysts say investors there were cautious ahead of more corporate results out of the United States. Blue chip Hutchinson Whampoa fell nearly 2 percent, to a 19- month, low after Morgan Stanley cut back conglomerate's 2001 profit forecast. That's the business day here in Asia. Back to you, Deb, in New York.</s>MARCHINI: Dalton, have a good weekend. Thank you very much. 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: Wall Street Rally Fails to Ignite Stocks