DEBORAH MARCHINI, CNN ANCHOR: Well, time now for a look at the markets in Asia, where we saw a bit of a boost from yesterday's technology rally on Wall Street. Michelle Hahn joins me now from Hong Kong with a look at more closely what happened in the Asian markets. Hi, Michelle.</s>MICHELLE HAHN, CNN CORRESPONDENT: Deborah, good morning. Well, Tokyo stocks closed weaker, after a Nasdaq-inspired rally gave way to fears over Japan's economic fundamentals. The government announced a surprise uptick in growth at the end of the first quarter, but that failed to convince economists that the trend can be sustained. The benchmark Nikkei average fell 0.6 percent, while the broader market was weighed down by a sharp fall in Bridgestone. That stock tumbled more than 9 percent, after the embattled tie-maker said the severing of ties with the Ford Motor Company would reduce annual sales by up to 1 1/2 percent. Hong Kong's Hang Seng Index closed more than 1 percent higher on strength in tech and property sectors. Investors chase property stocks on fresh hopes economic numbers would reveal a pick-up in rental prices. Those hopes were rewarded after the close, when data showed April consumer prices declining at a slower rate than the previous month. And Taipei's weighted index ended two-thirds of a percent higher on the back of Monday's gains in the Nasdaq. Investor sentiment was cautious of the government reported a worse-than-expected drop in Taiwan exports in April. And that's the business day here in Asia. Back to you, Deborah, in New York.</s>MARCHINI: All right, thank you, Michelle. TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Tokyo Stocks Drop After Nasdaq-Inspired Rally