DAVID HAFFENREFFER, CNN ANCHOR: Let's get a check on how the Asian markets -- how they did overnight.</s>DEBORAH MARCHINI, CNN ANCHOR: Yes, that's right -- the markets also had a rate cut to digest; that came in Japan, and it was after the markets closed on Friday. Dalton Tanonaka has details now from Hong Kong. Hi, Dalton.</s>DALTON TANONAKA, CNN CORRESPONDENT: Good morning, Deborah; good morning, David. A positive corporate report pushed one major Asian market off to a good start of the trading week: South Korea's leading automaker, Hyundai Motor, said 2000 net profits jumped 61 percent, to $527 million on strong domestic and international sales. Hyundai rolled up a two-percent gain in the Seoul market. Heavy buying in pharmaceutical and biotech stocks also helped pushed Seoul higher, as the blue chip KOSPI closed two thirds of a percent firmer. The over-the-counter KOSDAQ surged nearly three percent. But the Nasdaq's weakness pressured tech shares in Hong Kong, the Hang Seng slumping more than one percent. Down under, Rupert Murdoch's News Corp. shot up more than three percent, as fund managers bet that the media tycoon was close to gaining control of satellite broadcaster DirecTV. And that helped lift the market overall, the S&P;/ASX 200 index up a half percent. Bids for Australia's third generation mobile phone networks are in; seven companies are vying for those 3G licenses. They include Australia's dominant carrier Telstra, number two Cable & Wireless Optus, New Zealand Telecom, and subsidiaries of the British-based Vodafone and Hong Kong's Hutchison Whampoa. And, Deborah, you mentioned about the reaction to the rate cut: Well, traders in Tokyo had the day off for a public holiday, National Foundation Day. So they'll have a chance to react first thing Tuesday. Back to you in New York.</s>MARCHINI: All right, thank you very much, Dalton.
Asian Market Update: Positive News Has South Korea Leading