DEBORAH MARCHINI, CNN ANCHOR: Investors in Japan are getting their first chance to react to yesterday's no move on interest rates by the Bank of Japan. Lorraine Hahn wraps up the day in Asian markets from our studios in Hong Kong. Hello, Lorraine.</s>LORRAINE HAHN, CNN CORRESPONDENT: Hello, Deborah, thank you very much. We saw a lot of profit-taking across Asia Tuesday, before a series of U.S. economic data due out later this week. In Japan, news of a second major bankruptcy in a week sent shivers through the markets, sending the Nikkei index to a three-week low. A real estate unit of Sabu (ph) department stores, Sayo (ph) Corp., filed for special liquidation today with debts of $4.8 billion. It follows quickly behind Sogo department store, which sought bankruptcy court protection with $17 billion in debt. It was Japan's second biggest corporate bankruptcy. Now Sayo's largest creditor, Dai-Ichi Kangyo Bank, dropped almost seven percent. The Bank of Japan's decision yesterday not to raise interest rates also weighing on the market with investors fearing a rate hike in coming months. Other movers, Kirin Beverage Corp. extending losses, down almost five percent, after the company said it was recalling more than a million cans of its popular Kirin Speed sports drink, after complaints that it tasted odd. Overall, the Nikkei fell below the psychologically support level of 17,000 for the first time since June, down close to two percent. Hong Kong's Hang Seng index also dropped off more than two percent, depressed by selling of key blue-chips. Pacific Century CyberWorks, which will replace its merger partner Cable & Wireless Hong Kong in the index next month, lost three percent. Finally, in Taiwan, stocks there closely sharply lower, again, because of profit-taking. Brokers expecting a correction after four days of gains. Selling was focused on financials and industry shares. Weighted index dropping 2 1/2 percent. Deborah, that's a quick check from Asia. Back to you.</s>MARCHINI: All right, Lorraine, thank you.
Profit-Taking Across Asian Markets; News of Second Major Bankruptcy Rocks Japanese Shares