DEBORAH MARCHINI, CNN ANCHOR: Well, an interest rate cut in Japan met with a very different reception. Dalton Tanonaka joins me for a look at the Asian markets from Hong Kong. Welcome back, Dalton.</s>DALTON TANONAKA, CNN CORRESPONDENT: Good morning, Deborah, thank you. On -- you know, on a day when markets across the world are feeling the disappointment with the U.S. Fed rate cut, Tokyo eased investor pain with a huge move higher. The Nikkei jumped nearly 7 1/2 percent, its seventh biggest percentage gain ever. Speculation that the government intervened to boost prices helped drive sentiment, after trading resumed following a public holiday. But the yen didn't share in the positive sentiment, finishing the Asian session weaker at 122.89. It's under pressure because the BOJ's move on Monday sent interest rates to near zero. In Hong Kong, property stocks led the Hang Seng lower after what the U.S. Fed didn't do. Analysts say the property sector needs a big cut in borrowing costs to help it recover from the stagnation in real estate prices. The Hang Seng closed down a 1/2 percent. Taiwan investors reluctant to buy following Wall Street's sharp slide on Tuesday. The Taipei Weighted index slipping 1/3 percent on weakness in electronics and banking stocks. And that is the business day here in Asia. Back to you, Deborah, in New York.</s>MARCHINI: Briefly, Dalton, the last time the Bank of Japan cut interest rates to zero, it didn't help the economy or the markets much for very long. What's different this time?</s>TANONAKA: Well, good question, Deb. You know, I think what happened here is psychology. They were looking for some positive sign. And mainly this rally in Tokyo came in the face of weakness overseas. Unlike previous years when a -- when a cut like this came when the U.S. was strong. So because you are seeing a weaker U.S. market and Japan is still rallying, that kind of helps sentiment in that market, Deb.</s>MARCHINI: All right, Dalton, thank you.
Tokyo Eases Investor Pain With Higher Move