Stocks in Japan lost ground early Friday, with a weaker lead from Wall Street as financial stocks declined, and as the U.S. dollar declined against the yen. .
Japan’s Nikkei 225 index stepped back 12.74 points, or 0.1%, to 15,734.46.
Panasonic Corp. shares were down 1.5% following a Nikkei newspaper report the company will sell three chip-production facilities in Southeast Asia to Singapore's United Test and Assembly Center.
The move would continue Panasonic's efforts to shed unprofitable units. Retailing issues were also among session decliners, with Fast Retailing Co. and FamilyMart Co. shares each losing 1.2%.
Hong Kong’s Hang Seng Index gained 146.94 points, or 0.6%, to 23,133.35.
Mainland banks declined after Industrial and Commercial Bank of China, the world's largest bank by assets, reportedly refused to "assume main responsibility" to bail out investors in a three-billion-yuan ($500-million U.S.) investment product that it helped distribute.
Industrial and Commercial Bank of China shares fell 1%, Bank of China lost 0.6%, and Agricultural Bank of China Ltd dropped 1.2%.
Meanwhile, China Cosco Holdings , the country's largest bulk shipping company, rallied 5% after it expected to return to profit in 2013 and possibly avoid a delisting in Shanghai after two years of substantial losses.
Australia's share market cruised lower in early Friday trading, with banks down after some disappointing earnings from their U.S. peers, and a weak Australian dollar reportedly dampening foreign buying.
National Australia Bank Ltd. was down 1.1%, Westpac Banking Corp. and Macquarie Group Ltd. off 0.9% apiece, and Australia & New Zealand Banking Group falling 0.8%, after Citigroup Inc. and Goldman Sachs Group Inc. posted earnings that fell short of analyst estimates.
Miners offered some support to the market, however, shrugging off mostly lower commodity prices. Shares of BHP Billiton Ltd. added 2.6%, and those of Rio Tinto Ltd. rose 1.7% after Citi upgraded the sector and named the pair as among its favorite picks, resulting in sharp gains for their London-listed shares
CHINA
Shanghai’s CSI 300 index fell 33.35 points, or 1.5%, to 2,178.49
Stock investors rushed to buy shares of China's Neway Valve on Friday on its trading debut -- sending the issue up more than 30% and resulting in a 30-minute cooling-off period. After resuming trade the shares continued rising and were last up 33% at 23.45 yuan ($3.87 U.S).
Pent-up demand from investors after a more than year-long freeze on initial public offerings was released on the industrial-valve manufacturer as it become the first company to have a stock debut since Zhejiang Shibao in November 2012.
In other markets;
Korea’s Kospi index docked 12.84 points, or 0.7%, to 1,944.48
Taiwan’s Taiex Index slid 16.11 points, or 0.2%, to 8,595.
The Singapore Straits Times Index eked up 6.89 points, or 0.2%, to 3,147.33
In New Zealand, the NZX 50 subtracted 27.35 points, or 0.6%, to 4,893.95
In Australia, the S&P/ASX 200 reared back 3.20 points, or 0.1%, to 5,305.87
