DEBORAH MARCHINI, CNN ANCHOR: Time now for a look at the Asian markets, which suffered a tech-induced slump overnight. Dalton Tanonaka joins me live from Hong Kong with more. Hi -- Dalton.</s>DALTON TANONAKA, CNN CORRESPONDENT: Hi, Debbie. Yes, that slump was region-wide. First, let me start in Tokyo, where stocks there fell for the second straight session, on concerns over Wednesday's Nasdaq tumble and another round of tech ratings downgrades. Deutsche Securities dealt another blow to investor sentiment after it lowered ratings on heavyweights Japan Telecom and NTT. JT shares lost nearly 6 percent on the news, while NTT slipped 1.6 percent. Just a day before, Deutsche had downgraded 13 other Japanese tech firms. The Nikkei average, overall, finished 1.7 percent weaker. Hong Kong's Hang Seng Index is on a six-session losing streak. It fell 1.8 percent today, led by losses in China Mobile. That stock closed down nearly 3 percent on continuing weakness in the Nasdaq. Property issues also declined, as investors grew doubtful recent interest rate cuts would be able draw buyers back into the market. The biggest losers on the day were in Seoul, where the KOSPI slumped 2.5 percent. Dealers say investors there turned pessimistic on semiconductors, hitting chip giant Samsung Electronics with a loss of more than 5 percent. And that is the market day here in Asia. Back to you, Deb, in New York.</s>MARCHINI: All right, thanks so much, Dalton. TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Asian Market Update: Techs Slump Stocks