DEBORAH MARCHINI, CNN ANCHOR: Well, in Asian trading overnight, Tokyo managed to close in positive territory, but it didn't do much for the rest of the region. Michelle Han has a look at the Asian markets now, from Hong Kong. Hello -- Michelle.</s>MICHELLE HAN, CNN CORRESPONDENT: Deborah, good morning. Well, Tokyo stocks closed higher for a second day, despite the government's decision to downgrade its assessment on the economy. Bank of Japan Governor Masaru Hayami said, "Everyone is concerned that the economy as a whole is not moving forward currently." Well, those comments fueled speculation that the Central Bank will cut interest rates at its policy meeting on Monday, to revive the economy. Hopes of an easing in monetary policy boosted financial stocks, like Sanwa Bank, which surged almost 10 percent. The Nikkei ended the session up 0.8 percent. In Hong Kong, investors reacted cautiously to the prospect of lower U.S. interest rates when the Federal Reserve meets next week. The Hang Seng index edged up 1/10 percent in light trade. And in Taiwan, stocks on a four-session winning streak, financials led the gainers on hopes that Taiwan's central bank would cut rates if the U.S. does the same. Taipei's benchmark Weighted index closed up about three-quarters of a percent. And that's a wrap of the business day here in Asia. Deborah, back to you, in New York.</s>MARCHINI: Thank you, Michelle.
Asian Market Update: Investors Wonder Whether Interest Rates Will Be Cut