DEBORAH MARCHINI, CNN ANCHOR: The Federal Reserve's decision to cut interest rates yesterday seems to have sapped confidence in some markets and given them a case of the jitters, particularly some in Asia. Dalton Tanonaka joins me now from Hong Kong with a look at how those markets performed -- hi, Dalton.</s>DALTON TANONAKA, CNN CORRESPONDENT: Good morning, Deborah. Investors here in Asia actually took the U.S. Federal Reserve's interest rate cut in stride -- investors in Tokyo more concerned about a profit warning from a major Japanese electronics parts maker -- the Nikkei slipping 2.5 percent. Murata Manufacturing tumbled more than 12 percent after it forecast late Tuesday a 46 percent drop in profits for the current fiscal year. Analysts say Murata's numbers were worse than expected. Also hurting investor sentiment in Tokyo: an admission by Japan's finance minister, Masajuro Shiokawa, that he'd been too optimistic about his country's economic prospects when he took office three weeks ago. Now he says there are increasingly worrisome signs for Japan because of the slowdown in the U.S. economy and technology sector. Hong Kong's Hang Seng index climbed nearly two-thirds of a percent on gains in heavyweight China Mobile. The Fed's cut in U.S. interest rates gave a boost to property issues, which could benefit from lower borrowing costs. And Seoul's blue chip KOSPI closed 1.5 percent weaker on weakness in Hynix Semiconductor. That chipmaker gave up 8 percent, as investors were skeptical about its plans to secure overseas capital. That is the business and market day here in Asia -- back to you, Deb, in New York.</s>MARCHINI: All right, thanks very much, Dalton.
Fed Cut Shakes Confidence in Asian Markets