DEBORAH MARCHINI, CNN ANCHOR: Time now for a check of Asian trading. Among the highlights is a significant low for Tokyo. Dalton Tanonaka's in Hong Kong with a look at all the markets there -- Dalton.</s>DALTON TANONAKA, CNN CORRESPONDENT: Hi, Deb. Asian markets faltered, despite positive sentiment over in the U.S. about a possible imminent rate cut by the Fed, in Japan, prices closing at their lowest level in 28 months. Weakness in chip-related stocks pushed the benchmark Nikkei average more than one percent lower. That sector was spooked by the profit warning from Texas Instruments. Japanese chipmaking equipment producer Nikon (ph) lowered its sales forecast, and profit taking ended a five-day rally in bank shares. Investors in Hong Kong gave the thumbs down to the results of global bank giant HSBC. A near eight percent fall to the U.K.-based group took the Hang Seng Index down 2 1/2 percent, this to an eight- week low. HSBC announced lower than expected annual profits and was cautious about its prospects in the face of a U.S. economic slowdown. A fall in futures contracts in Seoul reversed early gains in blue chips, the KOSPI closing 1 1/3 percent weaker. Heavyweight Samsung Electronics announced a tie-up with U.S. chip giant Intel to make super-fast memory chips, but the stock lost 1.3 percent -- the tech heavy KOSDAQ falling 3 1/3 percent. And that is our Tuesday trading day -- back to you, Deb, in New York.</s>MARCHINI: All right, Dalton, thanks so much.
Asian Market Update: Stocks Falter Tuesday Despite Possible U.S. Rate Cut