DAVID HAFFENREFFER, CNN ANCHOR: Let's take a look at how the Asian markets ended today's trading session.</s>CHRISTINE ROMANS, CNN ANCHOR: Dalton Tanonaka has the details, from Hong Kong. Hello there.</s>DALTON TANONAKA, CNN CORRESPONDENT: Hello, Christine, hello, David. Asian investors are also on Fed watch today, taking that familiar wait-and-see position ahead of the FOMC meetings. Tokyo closed slightly lower, financial stocks leading the losers, Japanese consumers spending up slightly for the month of December, despite a high unemployment rate and a drop in incomes. This is the latest data offering a glimmer of hope to Japan's sluggish economy. Unemployment in Japan for December remained unchanged at 4.8 percent, it's highest level since last April. U.S. rate jitters knocked Hong Kong down nearly 1 1/3 percent on thin volume. In Taiwan, investors shrugged off the Fed and focused on the Nasdaq's solid gains overnight, tech stocks pushing the TAIEX nearly two percent higher. And in India, the Bombay 30 Share Index rose sharply as investors began to focus on the anticipated U.S. Fed rate cut, analysts say the market there lifted by short covering and the anticipation of several privatization schemes to be approved by the Indian government. But as you might expect, investor confidence remains fragile because of last Friday's earthquake in India's second most industrialized state. And that's Asia's business and trading day -- back to you in New York.</s>ROMANS: OK, thank you, Dalton.
Asian Market Update: Investors Waiting on What Fed Will Do