DAVID HAFFENREFFER, CNN ANCHOR: Well, South Korean shares suffered big losses in Asia overnight.</s>DEBORAH MARCHINI, CNN ANCHOR: Lorraine Hahn wraps up the day in markets there from our studios in Hong Kong. Hello, Lorraine.</s>LORRAINE HAHN, CNN CORRESPONDENT: Hey, thank you very much, both of you. Major Asian markets were flat Friday. With Tokyo on holiday, Hong Kong, let's start with that market, which is sensitive to U.S. borrowing costs, was rattled by high oil prices and what impact that would have on U.S. inflation, and therefore U.S. interest rates. The Hang Seng index closes this week down almost one percent; that is a two-month low. But South Korea's market was hammered on news that Ford Motor has decided to walk away from a planned takeover of indebted Korean automaker Daewoo. The market slid nearly 3 1/2 percent. The market was taken by surprise. Ford was expected to pay almost $7 billion for Daewoo. The rumor is that Ford found out Daewoo had more debts than it bargained for and wanted to lower its bid. Analysts say it's now up to government to determine the fate of Daewoo and also create a reform process. But in Taiwan, that market managed to buck the downtrend, as sole winner here in Asia, but up a paltry 0.4 percent. And that is a quick check from me. Both of you, before I go, I must say, it has been a pleasure working with you, and of course your team in New York and being on this show. And even though I have never met either of you in person, believe it or not, so David and Deborah all the best to you and to your team, AHEAD THE OF CURVE. Thank you.</s>MARCHINI: And the best to you. We feel like we know you too, though we've not met in person, as do a lot of the viewers, Lorraine. You'll be missed.</s>HAFFENREFFER: And so we got the new studio, but we're losing you. Thank you very much, Lorraine.</s>HAHN: Thank you.
Major Asian Markets Flat; South Korean Shares Suffer Big Losses