The Dow Jones industrial average edged a half point higher yesterday to notch its fourth straight record, but most stocks fell as a second day of declines on Asian markets fuelled doubts about that region's recovery efforts.

On Wall Street, the Dow rose 0.50 to 8,370.10 as a last-minute push wiped out the remnants of an early 57-point slide.

Broader stock measures, however, finally succumbed to some profit-taking after three days of record highs.

Stocks were weighed down at the open by another shaky day in Asia, with the main stock indexes in Hong Kong and the Philippines each dropping 3.3 per cent.

The four-session string of records by the Dow, which gained 180.61 points for the week, is the longest since it closed at record highs for six straight sessions last June.

The technology-heavy Nasdaq composite index fell 3.92 to 1,710.42, but still boasts an 8.5% gain for the past three weeks.