THIS IS A RUSH TRANSCRIPT.  THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED. DEBORAH MARCHINI, CNN ANCHOR: Both of the European markets are a little bit higher in the wake of the Federal Reserve's decision to cut interest rates slightly. And as for the Asian markets, they were mixed. Dalton Tanonaka has a look at those now. Hi, Dalton.</s>DALTON TANONAKA, CNN CORRESPONDENT: Hi, Deb. Investors in Tokyo, Asia's biggest market, pushed share prices higher despite Wall Street's negative reaction to the cut in U.S. interest rates. The 225 share Nikkei closed up 1 percent. Leading the rally there, Japanese companies expected to benefit from plans by the government to spend money on urban renewal projects. Mitsubishi Real Estate rose 4.4 percent, but electronics parts maker Kyocera missed out. Its stock price slipped .7 percent after media reports said operating profits were expected to drop 50 percent in the current fiscal year to $835 million. Hong Kong's Hang Seng slumped 2.2 percent to a 28-month low on concerns over the U.S. Fed's bleak assessment of the economy that accompanied the rate cut. Also weighing that index down, a 7.5 percent drop in its second large constituent China Mobile. China's leading mobile phone company fell on lingering fears over its slowing earnings growth and eroding profit margins. Investors in Taipei found it hard to ignore Tuesday's 2 percent tumble on the Nasdaq. Chipmakers Taiwan Semiconductor and United Microelectronics came under heavy selling pressure from overnight falls in their American depository receipts. Those tech loses took Taipei's Weighted index down 1.6 percent. And that is the market day here in Asia. Back to you, Deb, in New York.</s>MARCHINI: All right, Dalton Tanonaka, live from Hong Kong, thank you. 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 Markets Mixed Following Fed Cut