DAVID HAFFENREFFER, CNN ANCHOR: It is time now to take a look at how the Asian markets fared overnight.</s>CHRISTINE ROMANS, CNN ANCHOR: And for that, let's call on our Hong Kong bureau and Dalton Tanonaka. Dalton, did the Fed move in the U.S. inspire any buying in Asia?</s>DALTON TANONAKA, CNN CORRESPONDENT: Well, it was much the same story here in this region as well, Christine and David. Asian investors shrugging off the Fed's expected rate cut with markets actually falling at the open before recovering late in the trading day, Tokyo's Nikkei closing a half-percent weaker. But video game maker Sega soared another 17 3/4 percent after confirming the shutdown of production of its money-losing Dreamcast machine. Sega has skyrocketed nearly 86 percent since rumors of Dreamcast's demise began circulating two weeks ago. Investment bank Morgan Stanley Dean Witter raised Sega's rating to outperform from neutral, but the international ratings agency Moody's remains pessimistic on the game maker and issued a downgrade. Hong Kong's Hang Seng tacked on a small gain led by rate sensitive stocks. The Hong Kong Monetary Authority followed the U.S. Fed and cut overnight rates by 50 basis points to 7 percent. The Philippine Central Bank also lowered its rates by a half percent to 11 1/2 percent. In Seoul, stocks closing weaker, the Kospi down nearly 1 percent this day. And that is the Asian business day. David and Christine, back to you in New York.</s>HAFFENREFFER: All right, thank you, Dalton.
Asian Investors Shrug Off Fed Rate Cut in U.S.; Sega Soars After Shutting Down Dreamcast Production