Most Asian Markets to the Upside
DAVID HAFFENREFFER, CNN ANCHOR: Most of the Asian markets finished out the day on the upside today, thanks in part to the Nasdaq's gains Monday and a growing sentiment that U.S. interest rates have peaked. But domestic issues dragged other markets lower. Lorraine Hahn sums up the day in Asian trading from Hong Kong. Good morning.</s>LORRAINE HAHN, CNN CORRESPONDENT: Good morning, David. You took the words most out of my mouth. Most of Asia's key stock markets got a boot of confidence by soaring tech shares on the Nasdaq and growing expectations that U.S. interest rates have indeed peaked. In Japan, gains by high techs, such as computer maker Fujitsu and Internet investor Softbank, led the overall market higher. Fujitsu added 5.6 percent, while Softbank surged almost six percent. Nissan Diesel still surging, up 31 percent Tuesday, after soaring 40 percent yesterday, on news that it's developed a hybrid power truck, using natural gas and an electric motor. Well, on the economic front, five days before an election and Japan's economy gets a positive report card. The Economic Planning Agency, or EPA, upgraded its assessment of the economy for the second month in a row, although it fell short of declaring a full-fledged recovery. But caution did still prevail among some senior officials who admitted personal consumption remains week. Overall, the Nikkei picked up close to two percent. Here in Hong Kong, stocks fell with property, banking and mainland Chinese firms listed in Hong Kong, or H shares, leading the losses. Investors kept taking profits. The Hang Seng index ending down one percent. Taiwan stocks closing lower for the fifth straight day, despite President Chen Shui-bian's offer to meet with China's leader Jiang Zemin. But he said the summit should not be limited to any preconditions or locations, something onlookers say Beijing will not accept. Up until now, Beijing has ignored Chen's offer for peace talks, stressing that the only way the two will sit down and talk is if Taiwan understands and listens to the one China policy. Now, while investors approve Chen's goodwill gesture, they doubted that it would make any difference. Their malaise sent the Taiwan market down more than half a percent after an early rally. And that's a quick from me this Tuesday. Back to you, David.</s>HAFFENREFFER: All right, thank you, Lorraine.