Toshiba Cuts Jobs, Revises Earnings Forecasts
THIS IS A RUSH TRANSCRIPT.  THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED. DAVID HAFFENREFFER, CNN ANCHOR: And it's time now to take a look at markets around the world starting with Dalton Tanonaka in Hong Kong. Hi, Dalton.</s>DALTON TANONAKA, CNN CORRESPONDENT: Good morning, David. Japan's leading semiconductor maker is joining the growing crowd of chipmakers cutting jobs and revising earnings forecasts. Toshiba revealing plans to cut 10 percent of its global work force, 19,000 people, most of which will come in Japan. The chipmaker also substantially lowered its financial target for this fiscal year now forecasting a net loss of $950 million. Investors pushed Toshiba's stock price up more than 5 percent in anticipation of the restructuring. Rival Hitachi also saw its stock price power higher. The tech sector in Tokyo overall, also helped by the powerful rally in the U.S. Friday, boosting the Nikkei this day by nearly 1 percent. Other financial markets in the region began the trading week with positive moves. Technology stocks helped spark a strong rally in Hong Kong. The Hang Seng picking up more than 1 percent. And a similar story in South Korea where most techs and telecoms moved higher, the KOSPI closing more than 1.5 percent stronger. And that's the quick look at the market day here in Asia. David, back to you in New York.</s>HAFFENREFFER: All right. Thank you very much, Dalton. Dalton Tanonaka in our Hong Kong bureau. Right now we do have S&P; 500 index futures to the upside by 4.2 points, keeping us roughly 5 points above the so-called fair value line, indicating we could see a higher open for us today on Wall Street which is welcome news to come on the heels of a Friday up day. All right. Following an up day on Friday for the markets as well, many market watchers hoping to see some back-to-back gains before to be convinced that they really will stick. TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com