Asian stocks traded on an uneven note Friday, with Japanese markets drifting lower as investors played it safe ahead of the upcoming holiday week, but an initial public offering from China Citic Bank, the mainland's seventh-largest bank, got a favorable reception in Shanghai and Hong Kong.
In Tokyo, the benchmark Nikkei 225 index fell 28.76 points, or 0.17 percent, settling at 17,400.41 while in Hong Kong, the blue chip Hang Seng Index fell 140.79 points, or 0.7 percent, to 20,526.50.
Japanese markets will be closed Monday, Thursday and Friday for the "Golden Week" holiday, and the upcoming break inspired many investors to take profits or stay out of the market.
Some of the biggest losers were consumer finance shares, in cluding Acom Co., which fell 3.35 percent to 4,330 yen (US$36.08). Blue chips also fell, with Canon Inc. posting a 0.88 percent drop to 6,750 yen (US$56.25).
Elsewhere:
JAKARTA: Indonesian shares rose 0.2 percent to a fresh record high of 2,019.676, boosted by cement maker Indocement, which rose 3.5 percent.
KUALA LUMPUR: Malaysian shares ended up 0.7 percent at 1,324.77 in moderately active trading on broad-based buying.
MANILA: Philippine shares declined as investors locked in profits in blue chips after the market's two-day rise. The benchmark 30-company Philippine Stock Exchange Index shed 31.96 points, or 1 percent, to 3,318.36.
MUMBAI: Indian shares ended sharply lower, reversing a five-day winning streak as investors booked profit in blue chips after recent gains. The 30-stock Sensex declined 320.30 points, or 2.3 percent, to end at 13,908.58. On the rival National Stock Exchange, the 50-stock S&P CNX Nifty fell 94.35 points, or 2.2 percent, to close at 4,083.
SEOUL: South Korean shares fell on declines in shipbuilders and steelmaker Posco, weakness in neighboring Japan and renewed worries over China's economy. The Korea Composite Stock Price Index fell 10.61 points, or 0.7 percent, to 1,542.52.
SHANGHAI: Chinese shares closed down after five consecutive days of gains. The benchmark Shanghai Composite Index ended down 0.6 percent at 3759.87. The Shenzhen Composite Index edged 0.8% lower to 1048.48.
SINGAPORE: Shares fell on the heels of losses in other regional markets, with investors locking in profits after recent gains. The benchmark Straits Times Index shed 8.29 points, or 0.2 percent, to close at 3,398.6,
TAIPEI: Taiwan shares fell, weighed down by poor performances in neighboring Asian bourses. The Weighted Price Index of the Taiwan Stock Exchange dropped 50.62 points, or 0.6 percent, to close at 7949.42 in light volume.
WELLINGTON: New Zealand stocks went slightly higher in relatively quiet trade as the market continued to digest the effects of the central banks' interest rate rise Thursday. The benchmark NZX-50 index closed up 6.5 points, or 0.2 percent, to 4,181.44.
SYDNEY: Australian stocks were hit by profit-taking, falling 1.0 percent as the key resource and banking sectors slid lower. The benchmark S&P/ASX200 index fell 60.6 points, or 1.0 percent, to 6,151.6, while the All Ordinaries moved 56.8 points downwards to 6,141.
With files from wire services
