Several Asian stock markets dropped Friday in the wake of the assassination of former Pakistan Prime Minister Benazir Bhutto and a steep fall on Wall Street.
Japan's Nikkei 225 average finished down 1.7 percent at 15,307.78 in a shortened, half-day trading session, ending 2007 with a loss of more than 11 percent. The broader Topix index fell 1.6 percent to 1,475.68.
In Hong Kong, the Hang Seng Index dropped 1.7 percent to 27,370.60 while the Hang Seng China Enterprises Index sank 2.2 percent to 15,991.48.
In Tokyo, shares of Japan Airlines dropped 5.6 percent on media reports that it will increase its capital by up to 150 billion yen ($1.32 billion).
Banks also extended their losses, with Mitsubishi UFJ giving up 3.2 percent and Mizuho Financial Group losing 2.9 percent.
Japan's consumer price index reportedly rose 0.4 percent in November from a year ago, registering an increase for the second straight month, while its seasonally adjusted unemployment rate fell to 3.8 percent in November, from 4 percent in the previous month.
In Hong Kong trading, shares of Air China gained 2.1 percent, despite the weak market, on reports that Hong Kong and mainland Chinese authorities have agreed to allow airlines to expand their flight and cargo services.
Shares of Bank of East Asia dropped 2.1 percent after it said late Thursday it will sell a 4.95 percent stake to Spain's Criteria CaixaCorp SA for HK$3.95 billion ($506 million).
Shares of Industrial and Commercial Bank of China (Asia) rose 4.2 percent after its parent and China's largest lender Industrial and Commercial Bank of China said that it plans to buy an 8.23 percent stake in the company from Fortis N.V. for HK$1.92 billion.
PetroChina Co. shares fell 2.9 percent in Hong Kong, after the energy producer said the company and its parent will invest 16 billion yuan in a existing joint venture that manages exploration and production operations outside China.
ELSEWHERE:
MUMBAI: India's Sensitive index dropped 0.8 percent to 20,055.49.
SINGAPORE: The Straits Times Index fell 0.9 percent to 3,446.63.
SHANGHAI: China's Shanghai Composite lost 0.9 percent at 5,261.56.
TAIPEI: Taiwan's Weighted Index rose 1 percent to 8,396.95.
SEOUL: South Korea's Kospi shed 0.6 percent at 1,897.13.
SYDNEY: Australia's S&P/ASX 200 slipped 0.2 percent to 6,339.90.
WELLINGTON: New Zealand's NZX 50 index gave up 0.8 percent at 4,036.
with files from other wire services
