Shares tumbled across Asia on Friday, sparked by risk aversion after Wall Street's hefty decline, with investors spooked by fears for the U.S. housing and credit markets.
In Tokyo, Nikkei 225 index ended down 418.28 points, or 2.4 percent, to 17,283.23, its lowest close since May 1 while in Hong Kong, the blue chip Hang Seng Index shed 2.8 percent, or 641.28 points, to 22,570.41.
Nomura Holdings jumped 6.6 percent to 2,260 yen (US$18.8) as its first quarter net profit more than tripled even though the brokerage reported losses in its U.S. mortgage-backed securities business due to mounting problems among subprime lenders.
ELSEWHERE:
BANGKOK: Thai shares ended up 0.1 per cent at 884.16 in moderate trade, as profit taking pared gains in energy blue chips.
JAKARTA: Indonesian shares fell 1.2 per cent at 2,365.26 in thin trade.
KUALA LUMPUR: Malaysian shares edged up, adding 0.1 per cent to close at 1,381.50 in heavy trade.
MANILA: Philippine shares climbed after three days of losses, aided by Wall Street's advance overnight. The benchmark 30-company Philippine Stock Exchange Index rose 14.17 points, or 0.4 per cent, at 3,659.68.
SEOUL: South Korean shares fell back below the 2,000-point level, succumbing to profit-taking toward the end of the day after ending above the important barrier for the first time in the previous session. The Korea Composite Stock Price Index, or Kospi, ended down 40.68 points, or 2 per cent, at 1,963.54, after marking an all-time high of 2015.48 in early trade.
SINGAPORE: Singapore's shares fell as fears of a general overvaluation sapped the market's recent momentum. The benchmark Straits Times Index closed down 53.81 points, or 1.5 per cent, at 3,579.73.
TAIPEI: Taiwanese shares fell on profit-taking, primarily by foreign investors. The Weighted Price Index of the Taiwan Stock Exchange shed 173.71 points, or 1.8 per cent, to close at 9,566.42 on extremely high volume.
WELLINGTON: New Zealand shares held their own to close flat, with most blue chip stocks gaining slightly as the nation's central bank signaled a possible end to its tightening cycle after raising rates for the fourth consecutive time. The benchmark NZX-50 closed almost flat, up 0.8 point, at 4,325.78.
SYDNEY: Australian shares slid on interest rate worries caused by Wednesday's higher-than-expected CPI data, despite a modest recovery on Wall Street. The benchmark S&P/ASX 200 closed down 82 points or 1.3 per cent at a three-week low of 6258.5.
With files from wire services
