8:00AM-Asian Markets close reflected weakness led by a 2.1% decline in Korea.
Asian-Pacific benchmarks finished in the red, reflecting weak close on Wall Street and cautiousness ahead of Bank of Japan’s meeting on Wednesday. The Nikkei slipped 1.1% on speculations the BOJ could tighten its ultra-easy monetary policy. Semiconductor-linked stocks declined on disappointing earnings from U.S. technology company Texas Instruments. Chip maker Elpida Memory fell 6%. Softbank slid 8.5% on reports that the Internet service company is in deal talks with British mobile-phone operator Vodafone. South Korea’s Kospi tumbled 2.1%, China Shanghai Composite plunged 2.3% on profit taking by institutional investors, Hong Kong’s Hang Seng fell 1.3%, and Taiwan Weighted index dropped 1.2% on weakness in banking and tech stocks.

European stocks traded lower at mid-day dealings, hurt by sharp U.S. markets losses and weak resource stocks including BHP Billiton, down 3.7% and Rio Tinto, down 3%. However, automaker Volkswagen AG bucked the lower trend, rising 1.1%. The German DAX 30 lost 0.8%, the French CAC 40 dropped 0.7%, and London FTSE 100 slipped 0.9%.

Crude oil prices advanced ahead of OPEC meeting to discuss output levels. Light sweet crude April delivery gained 24 cents to $62.65 a barrel in electronic trading on the Nymex. Gasoline lost 1 cent to $1.6505, while heating oil was marginally up to $1.7598. Natural gas rose 3 cents to $6.575 per 1,000 cubic feet. London Brent added 43 cents to $62.77. European gold prices further declined. In London gold fell to $555.25 bid per troy ounce, down from $565.10. In Zurich the precious metal fell to $555.40 from $565. In Hong Kong gold dropped $13.20 to $554.60. Silver opened at $10 per troy ounce, down from $10.20. The U.S. dollar advanced against other major currencies. The euro traded at $1.1909, down from $1.2017. The dollar bought 117.84 yen, up from 117.54. The British pound was quoted at $1.7363, down from $1.7491.

Earnings from several small retailers generally met analyst’s expectations.
Per-Se Technologies, (PSTI: chart), provider of healthcare technology products, reported Q4 earnings of 34 cents a share, down from a profit of $1.11 a share a year-ago. On an adjusted basis, the company reported earnings from continuing operations of 27 cents a share in Q4. The adjusted results exclude expenses related to the NDCHealth acquisition and a tax benefit. The analysts estimate was for a profit of 29 cents a share.

Finlay Enterprises (FNLY: chart), retailer of fine jewelry products, reported Q4 net income of $3.11 a share, up 2% from $3.02 a share from a year ago. If not for charges, net income advanced to $3.25 a share from $2.94 a share. Revenue grew 10.7% to $421.4 million. The Sports Authority Inc, (TSA: chart), sporting goods retailer, reported Q4 earnings of $1.10 a share, up from a year-earlier profit of 96 cents a share. Sales advanced in Q4 to $741.1 million from $713.8 million in the same period a year ago and same-store sales advanced 2.4%. The analysts’ estimate was for a profit of $1.08 a share. The company attributed the improved earnings to strong sales of active and outdoor apparel, fitness and team sports products, as well as improved gross margins and continued expense controls.

Dick''s Sporting Goods Inc, (DKS: chart), sporting-goods retailer, reported that Q4 net income advanced 28% to $1 a share, up from 79 cents a year earlier, topping analysts’ estimate of 98 cents a share. Sales for Q4 rose 8% to $849.5 million, while same-store sales advanced 4.1%. Sunrise Senior Living, (SRZ: chart), assisted living company, reported Q4 earnings of $1.01 a share, up from 28 cents a share in the year-ago period. Revenue advanced to $554.7 million from last year''s $379.1 million. Same-community portfolio revenue rose 6.7%, with the average daily rate rising 3.6% and occupancy increasing 3.4%. The company expects earnings of 28 to 34 cents a share in the first quarter and $1.16 to $1.20 a share for 2006.