DEBORAH MARCHINI, CNN ANCHOR: All the after-the-bell warnings and negative earnings reports took a toll on Asian markets today.</s>DAVID HAFFENREFFER, CNN ANCHOR: Yes, Dalton Tanonaka sums it all up for us from our studios in Hong Kong. Hi, Dalton.</s>DALTON TANONAKA, CNN CORRESPONDENT: Hi, David. Hi, Deborah. You know, you talked about the weakness in techs because of Nortel. And also you would think that Nasdaq strength in trading yesterday would have helped Asian markets, but that wasn't the case. Tokyo closing the week with a 1 percent fall and the profit warning from Nortel short-circuited Japan's leading optical fiber cable maker, Furukawa Electric share price plunging more than 10 percent. Mitsubishi Motors again skidded down another 5 percent following a Thursday recall of more than 1 million vehicles due to faulty parts. Sentiment in Tokyo also dented by growing differences between the government and the Central Bank over how to rev up the sluggish economy. Finance Minister Kiichi Miyazawa says deflation is a concern for the world's No. 2 economy. But BOJ Governor Masaru Hayami says he sees no risk of Japan heading into a deflationary mode. The conflicting views come ahead of a weekend meeting of finance ministers and central bankers of the Group of Seven nations in Italy. In Hong Kong, the Hang Seng fell nearly 1 percent. In Seoul the Nasdaq's rally did fuel a nearly 3 percent rise in chipmaker Samsung Electronics, and that helped lift the overall index, the Kospi, slightly higher. Bankrupt Daewoo Motor has begun laying off more than 1,700 workers after last-minute talks with labor failed. And that is the Asian day and week, David and Deborah. Back to you in New York.</s>HAFFENREFFER: All right, Dalton, thank you very much.
After-The-Bell Warnings, Negative Earnings Take Toll on Asian Markets