TOKYO -- A warning from U.S. semiconductor maker


(INTC) - Get Intel Corporation (INTC) Report

about the firm's third-quarter revenue

hit Asian tech shares hard, renewing fears that growth in the chip market, and perhaps in telecom as well, would slow down in Asia.

Closing figures were ugly in Tokyo, but there were glimmers of hope that the market will rebound next week.

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    Nikkei 225

    index shed 492.80, or 3.0%, to close at 15,818.25, while the


    index, which includes all shares listed on the

    Tokyo Stock Exchange's

    first section, lost 46.78, or 3.1%, to finish at 1466.93. The


    small-cap index shed 1.69, or 2.2%, to stand at 74.73, while the Nikkei


    index fell 22.26, or 1.4%, to end at 1596.40.

    Intel, the world's leading semiconductor maker, warned late Thursday afternoon that its third-quarter revenue would fall short of forecasts, primarily because of weak demand in Europe. The warning stunned Wall Street, and shares of Intel

    dropped 20% in after-hours trading.

    Japanese chip makers followed along with Intel's fall, including



    , down 210 yen, or 7.7%, to 2510 ($23.48);


    , down 1350, or 4.2%, to 30,700; and


    , down 37, or 3.9%, to 906. Makers of chip-making equipment also tumbled, like


    , down 1270, or 6.6%, to 17,980 and

    Tokyo Electron

    , down 990, or 8.2%, to 11,020.

    Other large-cap electronic and telecom shares also felt the punch, including



    , down 650, or 5.2%, to 11,830;

    NTT DoCoMo

    , down 280,000, or 8.4%, to 3.07 million; and


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    , down 215, or 7.6%, to 2630.

    Tokyo traders agreed that the market on Monday and Tuesday would closely follow moves on Wall Street. However, some local fund managers said many tech shares are at such a deep discount, it will be a prime time to buy shares.

    "I'm definitely not doing anything until I see what happens to


    on Friday, but I bet there are others like me that'll be interested in shares of large electronic manufacturers like



    , since the firm is expected to post such great fiscal first-half results next month," said one Japanese fund manager, who declined to be named.

    In addition, many experts reckon that investors may push up the Nikkei 225 index to at least 16,500 by the end of next week to end the fiscal first half on a higher note.

    Thanks to the stock slump in Tokyo, the greenback edged higher recently to fetch 106.88 yen.

    Korean stocks were all shook up by Intel's news, with the key


    index declining 42.74, or 7.2%, to close at 553.25. Besides ongoing woes at

    Daewoo Motors

    , many foreign investors today fled the tech sector as well.

    Samsung Electronics

    fell KW30,000 ($168.74), or 13.6%, to 190,000, while rival

    Hyundai Electronics Industries

    lost 1550, or 9.8%, to 14,350.

    Hong Kong's

    Hang Seng

    index also slumped 551.57, or 3.1%, to close at 14,612.88 as telecom shares fell hard.

    China Mobile

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    shed HK$4.10, or 8.0%, to 46.90, while

    China Unicom

    (CHU) - Get China Unicom (Hong Kong) Limited Sponsored ADR Report

    lost 1.05, or 6.3%, to 15.50.

    After a near-16% sell-off yesterday, shares of

    Pacific Century Cyberworks


    held up pretty well by declining only 0.25, or 2.8%, to 8.80, but China's largest computer maker,


    , fell 0.70, or 10.4%, to 6.05.



    index fell 308.81, or 4.5%, to close at 6612.09, as

    Taiwan Semiconductor Manufacturing

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    lost NT$8.00, or 7.0%, to 106.50 ($3.42).