DAVID HAFFENREFFER, CNN ANCHOR: Well, the Asian markets took a hit overnight: One Internet firm weighs heavily on Hong Kong.</s>DEBORAH MARCHINI, CNN ANCHOR: From our studios there, Michelle Han wraps up the trading day in Asia. Hello, Michelle.</s>MICHELLE HAN, CNN CORRESPONDENT: Good morning, David and Deborah. Well, Asian markets shrugged off the Nasdaq's firm close; instead, runaway oil prices and the Dow's continued decline pulled down key bourses. In Tokyo, the Nikkei 225 snapped a two-day rally to finish almost one percent lower. Japanese shares are suffering from the uncertainty over U.S. corporate earnings because of the weak euro. Here in Hong Kong, the Hang Seng index slumped more than three percent. The culprit: a 16 percent plunge in Pacific Century CyberWorks shares after Britain's Cable & Wireless, its former parent, sold off almost eight percent of its holdings in PCCW. In South Korea, the short-lived rebound Wednesday couldn't be sustained. The benchmark Kospi shed 1 2/3 percent on concerns over soaring oil prices and the pace of corporate restructuring. And finally, a bit of sad news from Japan Inc.: The president of newly re-privatized Nippon Credit Bank reportedly committed suicide late Wednesday night. A police investigation is under way and no details on what led to the suicide were disclosed. But the tragedy suggests problems at the bank may be worse than thought. And that wraps up the business day here in Asia. Back to you both in New York.</s>MARCHINI: All right, thanks, Michelle.
Runaway Oil Prices, Dow's Continued Decline Pull Down Key Asian Bourses