Major Asian equity markets ended mostly down Friday amid fresh global concern over Greece, with Japanese exporters troubled by the yen's rise and resource stocks hurt by the fall in commodity prices.
In Tokyo, the Nikkei 225 subtracted 34.63 points, or 0.3%, to 10.914.46
In Hong Kong, the Hang Seng index dumped 210.45 points, or 1%, to 21,244.49.
The broad declines came after the European Union's statistics agency said Thursday Greece's budget deficit was worse than originally reported and it could be revised even higher. Moody's Investors Service also downgraded Greece's sovereign ratings by one notch to A3.
Greece reportedly moved to activate aid from the E.U. and the International Monetary Fund Friday.
The Greek woes weighed on Tokyo stocks, raising concerns that the euro's recent weakness against the yen will erode the value of Japanese exports to the euro zone. Among exporters with euro-zone exposure, Kyocera Corp. lost 1.3% and Nikon Corp. fell 0.9%.
Flat-panel makers LG Display of Korea and AU Optronics of Taiwan advanced 3.4% and 3.6%, respectively, after they reported stronger-than-expected first-quarter results Thursday. The earnings-driven gains in LG Display, coupled with Hyundai Motor's 3.6% surge, helped to limit the South Korean market's decline.
Kia Motors ended flat in the weak market despite reporting that its first-quarter net profit more than quadrupled from a year earlier.
In Sydney, CSL is the biggest drag on the S&P/ASX 200 index, losing 7.3% in heavy volumes after global plasma products rival Baxter International Inc. slashed its full year outlook and said it had overestimated strength in the market.
CSR's shares jumped 5.6% as the market reacted positively after the Australian Federal Court said it would allow the company to move forward with a planned demerger of its sugar business, reversing a prior decision.
In the foreign exchange market, the euro was at $1.3304 U.S. after touching a fresh 11-month low of $1.3201 U.S., compared with $1.3211 U.S. late Thursday in New York trade. It was also buying 124.34 yen from 124.52 yen, while the dollar was changing hands for 93.39 yen from 93.56 yen.
Elsewhere;
Shanghai’s CSI 300 Index gave back 11.54 points, or 0.4%, to 3,190
Korea’s Kospi index slid 2.49 points, or 0.5%, to 1,739.52
Singapore’s Straits Times Index gained 7.80 points, or 0.3%, to 2,988.49
Taiwan’s Taiex index was also in the green, by 26.20 points or 0.3%, to 8,004.89
New Zealand’s NZX 50 Index added 14.20 points, or 0.4%, to 3,301.66
Australia’s S&P/ASX 200 lost 25.90 points, or 0.5%, to 4,881.50
