DAVID HAFFENREFFER, CNN ANCHOR: Time now to check on how the Asian markets fared overnight. And for that we turn to Michelle Han in Hong Kong.</s>MICHELLE HAN, CNN CORRESPONDENT: The deflationary spiral may continue to hinder Japan's economic recovery despite a rise in the February's nationwide consumer price index. That's because Tokyo area consumer prices for March dipped for the 19th consecutive month, a strong indicator that more weakness is ahead. Ongoing deflation has caused the Bank of Japan to adopt a fiscal policy where interest rates are near zero. And that will remain until consumer prices stabilize at zero or above. But a surprise fall in unemployment for February to 4.7 percent offered some hope. Analysts were expecting the jobless rate to stay at the record high 4.9 percent. Friday was the last day of the fiscal year in Japan. The yen succumbed to the dollar's pressure. It closed at Asian trade at 125.14, a level not seen since October '98. The Tokyo Nikkei sank 1/2 percent to close below the psychologically important 13,000-point level. Microsoft will be launching its Xbox game console in Japan in the autumn. The Xbox will come with 11 new game titles developed by Japan's Sega. And that deal powered Sega's share price 3 percent higher. The Hong Kong Hang Seng index advanced 2/3 percent. And a blue chip rally lifted the Singapore Straits Times index more than 2 percent. And that's the business day here in Asia. I'm Michelle Han.</s>HAFFENREFFER: All right, Michelle, thank you very much. Have a great weekend.
Deflationary Spiral May Continue to Hinder Japan's Economic Recovery; Yen Succumbs to Dollar's Pressure