Momentum tilted Asian markets lower in afternoon trading Friday, resolving what earlier had been a tug-of-war between gainers and decliners.
In Tokyo, the benchmark Nikkei 225 index declined 176.47 points, or 1.01 percent, to finish at 17,363.95 while in Hong Kong, the blue chip Hang Seng Index fell 39.24 points, or 0.19 percent, to 20,340.97.
Traders said the main stock index continued to fall as investors took profit in steel, autos and banking sectors.
Losers included Nissan Motor Co., which fell 1.92 percent, Nippon Steel Corp., which dropped 2.70 percent, and Sumitomo Mitsui Financial Group Inc., which posted a 2.59 percent decline.
Elsewhere:
JAKARTA: Indonesia shares edged up 0.6 percent to hit a new high of 1,941.52 points, led by gains in Bank Mandiri.
KUALA LUMPUR: Malaysian shares climbed as property shares received a boost from relaxed industry regulations. The Kuala Lumpur Composite Index of 100 blue chips inched up 0.1 percent to 1,308.2 points.
MANILA: Philippine shares dropped as investors locked in profits ahead of May congressional polls and an initial public offering by reinsurer National Reinsurance. The benchmark 30-company Philippine Stock Exchange Index shed 6.15 points, or 0.2 percent, to 3,216.07, adding to Thursday's 2.2 percent loss.
SEOUL: South Korean shares were pulled down by Samsung Electronics' weaker-than-expected first-quarter results. The Korea Composite Stock Price Index, or Kospi, fell 4.83 points, or 0.3 percent, to 1,520.78.
SHANGHAI/SHENZHEN: Chinese shares were pulled down by profit-taking and concerns over upcoming initial public offerings of banks after they ended at record highs for nine consecutive sessions. The benchmark Shanghai Composite Index fell 0.4 percent to 3,518.27 points. Turnover on the Shanghai Composite Index reached a record of 168.09 billion Chinese yuan ($21.8 billion). The Shenzhen Composite Index slipped 0.03 percent to 948.43 points.
SINGAPORE: Singapore shares closed flat amid improving sentiment among investors and prospects of good earnings reports by companies over the next few weeks. The Straits Times index inched up 0.9 point, or 0.03 percent, to 3,373.59.
TAIPEI: Taiwan shares dropped, a day after investigators announced a probe into alleged insider trading activities by a leading high tech company. The Weighted Price Index of the Taiwan Stock Exchange fell 72.94 points, or 0.9 percent, to close at 8,002.26 in average volume.
WELLINGTON: New Zealand shares dipped in subdued trading as surprisingly strong February retail sales data raised the prospect of further central bank rate hikes, a factor which brokers say may continue to weigh on the index in the near-term. The NZX-50 closed dropped 3.8 points, or 0.1 percent, to 4,164.30.
SYDNEY: Australian shares retreated from a record high, with a strong Australian dollar putting pressure on offshore income earners including Westfield Group. The benchmark S&P/ASX 200 declined 22.4 points to 6,135.8.
BANGKOK: Thai markets were closed for the traditional calendar New Year holiday.
With files from wire services
