Hong Kong lost ground Friday for the first time in four sessions to pace a decline in stocks across most major Asian markets, after the Bank of China and other Chinese banks reported exposure to U.S. subprime mortgage-linked securities.
In Tokyo, Nikkei 225 index fell 67.35 points, or 0.41 percent, to finish at 16,248.97 while in Hong Kong, the blue chip Hang Seng Index dropped 0.2 percent to 22,921.89.
Declines in oil and mining shares weighed on the overall market. Sumitomo Metal Industries shed 1.7 percent to 590 yen ($5.08), while Nippon Oil Corp. lost 2.5 percent to 934 yen ($8.04).
Trading houses also fell, including Marubeni Corp., down 2.1 percent to 930 yen ($8.01), and Mitsui & Co., off 1.1 percent at 2,340 yen ($20.15). Shipping stocks were among the day's winners.
ELSEWHERE:
SEOUL: South Korea's Kospi ended 0.5% lower at 1,791.33, weakening after nosing past the 1,800 level earlier in the session.
SHANGHAI: China's Shanghai Composite shrugged off the banks' subprime disclosures to end 1.5% higher at 5,107.67, finishing at a record high for the fifth time this week.
TAIPEI: Taiwan's Weighted index lost 0.5% at 8,690.09.
WELLINGTON: New Zealand's NZX 50 index dropped 0.9% to 4,052.45.
SYDNEY: Australia's S&P/ASX 200 lost 1.2% at 6,088.50.
with files from other wire services
