Asian markets finished lower Thursday, weighed down by persistent worries about rising oil prices and the impact of rising inflation on regional economies. But many of the indexes came off the day's lows toward the end, as bargain hunters snapped up shares that had been thrashed over the past few sessions.
The benchmark Nikkei 225 index sank 1.3 percent to 13,286.37
Marine transport and banking issues fell particularly hard. Nippon Yusen K.K. sank 4.6 percent and Mizuho Financial Group lost 3.1 percent.
Japanese carmakers also declined. Toyota Motor Corp., whose American sales shrank 21 percent in the month, fell 1.4 percent. Nissan Motor Co. closed down 2 percent.
Suzuki Motor Corp. plunged 7.1 after the company on Tuesday reported slower-than-expected sales growth at its India unit, Maruti Suzuki India.
In Hong Kong, stocks fell as investors sold banks, airlines and developers on worries over the impact of inflation and economic slowing on corporate profits. The blue-chip Hang Seng Index lost 1.8 percent to 21,704.45.
Mainland Chinese shares were flat, but insurance and brokerage stocks slid further amid worries about a possible interest rate hike and the impact of a market slump on profits. The benchmark Shanghai Composite Index closed nearly unchanged at 2,651.73, remaining at 16-month lows.
Elsewhere:
New Zealand's NZX 50 index fell 2.2% to 3,094.42.
Singapore's Straits Times fell 1.4% to 2,868.03 by late afternoon.
In Seoul, the Kospi fell 1.1% to 1,606.54.
Australia's S&P/ASX 200 shed 1.9% to 4,998.30, dropping below the 5,000-point mark for the first time since September 2006.
with files from other wire services
