Asian Markets Take a Hit
THIS IS A RUSH TRANSCRIPT.  THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED. DEBORAH MARCHINI, CNN ANCHOR: Asian markets took a hit overnight. To find out more of the reasons why, we go to Dalton Tanonaka for a look at those markets. He's live in Hong Kong. Hi, Dalton.</s>DALTON TANONAKA, CNN CORRESPONDENT: Hi, Deb. Stock prices in Asia's biggest market, Tokyo, pulled back after Tuesday's near 4 percent climb. Companies that had the biggest gains after the Bank of Japan announced the further easing of monetary policy took the biggest hits, and a BOJ downgrade of the economy also took the wind out of the Nikkei's sails. Techs were under pressure following a weak showing in the U.S. A four session win streak for the Nikkei snapped and the debate over a possible supplementary budget in Tokyo will take a bit longer to materialize. The government saying that it will wait until late September to begin discussions on that. Sentiment in other Asian markets upbeat. Taipei closed at a five-week high. Its hopes for greater economic ties between the island and China boosted most stocks there. Better-than-expected earnings from China's biggest PC maker helped spark a late turnaround in Hong Kong trading. Legend Holdings earned $32 million in its second quarter, above analysts' expectations. Its stock price up nearly 6 percent. And that move turned a losing day on the Hang Seng into a winning one, pushing the index up 1 1/4 percent. And that is the market day in a nutshell in Asia. Back to you, Deb, in New York.</s>MARCHINI: Dalton, I noticed in currency trading this morning the dollar's down about 1 1/4 yen against the Japanese currency. Does this reflect what's going on in Japan or the U.S.?</s>TANONAKA: Well, I - yes, I know I said yesterday that we figured the yen was going to weaken more but that has more to do with dollar weakness and yen strength because of that IMF report, Deb. So I don't think anything here is causing that exchange rate to fluctuate like that, Deb.</s>MARCHINI: Indeed, as Dalton noted, the IMF reporting that the U.S. currency is at risk of a sharp depreciation. That report was released yesterday, and we are seeing the dollar weaken also against the European currencies this morning. Thanks, Dalton. TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com