DEBORAH MARCHINI, CNN ANCHOR: Well, Asia retreated, led by faltering tech and telecom stocks. Michelle Han sums up the day in trading from Hong Kong. Hello, Michelle.</s>MICHELLE HAN, CNN CORRESPONDENT: Deborah, good morning. Well, the bears moved on to the Asian markets after making the Nasdaq their lair. And feeding the bears was the profit warning for the fourth quarter from tech powerhouse Lucent. The Tokyo Nikkei average sank two percent to an 18-month low. Techs and telecom stocks took most of the beating. Chip makers NEC and Fujitsu lost 5 percent. Japanese optical fiber makers also closed sharply lower on Lucent's warning. And over here in Hong Kong, the key Hang Seng index lost 2 3/4 percent with techs, telecoms and Internet shares hit the hardest. Market watchers say the Hang Seng could test the 15000 point support level in the next few days. South Korea's Kospi skidded more than five percent. And tech-heavy Taiwan tumbled 2 3/4 percent, also on the heels of Nasdaq's nasty fall and caution over the re-implementation of the market's daily seven percent downward limit. And that wraps up this gloomy Asian day of trade. Back to you, Deborah.</s>MARCHINI: All right, thank you, Michelle.
Tech and Telecom Stocks Lead Asian Retreat