DEBORAH MARCHINI, CNN ANCHOR: The Asian markets took a tumble on the heels of Friday's selloff on Wall Street. With more details now is Janine Graham, live in Hong Kong. Hello, Janine.</s>JANINE GRAHAM, CNN CORRESPONDENT: Good morning, Deborah. In Tokyo, financial and technology stocks were the main culprits in Monday's more than 4 percent selloff in the Nikkei. The continued selloff in the Nasdaq jolted tech investors in Japan, dragging down some of the larger tech issues. Banking stocks took a beating as well, as investors are not confident that the economic stimulus package released on Friday will be much help to the debt-ridden banking sector. Investors in Japan were also greeted with some bad news from the Bank of Japan Governor Masaru Hayami. The governor warned that despite the BOJ's recent adoption of a zero-interest rate policy, the economy could continue to stagnate into the foreseeable future. Other Asian markets didn't fare much better. Here in Hong Kong, the Hang Seng fell 1.5 percent, pulled down by shares of China Mobile. And in Singapore, the Straits Times had a bruising day, closing at two-year lows. It ended down 5.22 percent. And that's the business day here in Asia. Back to you, Deborah, in New York.</s>MARCHINI: All right, thank you, Janine. 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: Stocks Tumble After Last Week's Wall Street Selloff