The Shanghai A-share Index fell 9.42 points to 1,220.93, while the Shenzhen A-share Index lost 3.30 points or 1.12 percent.
The benchmark Shanghai Composite Index, which covers both A and B-shares, lost 8.81 points or 0.75 percent at 1,161.06.
Australian share prices fell 0.19 percent, ending a three-day record-breaking run in subdued trade for the last session of the year, dealers said.
In a shortened trading day, the benchmark SP/ASX 200 closed down 9.1 points at 4,763.4.
It was up just over 17 percent for the year, compared to a 23 percent rise in 2004. The broader All Ordinaries Index retreated 6.4 points to 4,708.8.
Singapore share prices closed little changed but Singapore Airlines was in focus, drawing support on hopes the carrier may divest its catering and engineering units, dealers said.
The Straits Times Index was up 1.96 points at 2,347.34.
The market was also largely flat on the year, falling 7.64 points or 0.84 percent from 907.43 at the end of 2004 even as the region posted several record-breaking performances.
Thai share prices closed 0.49 percent higher as local institutional investors bought blue-chip stocks for year-end window-dressing, dealers said.
The Stock Exchange of Thailand (SET) composite index rose 3.51 points to 713.73 and the bluechip SET 50 index gained 2.65 points to 502.85.
For last year, the SET index gained 45.63 points or 6.8 percent, and the SET 50 index was up 34.17 points or 7.3 percent.
Indian share prices closed 0.80 percent higher, putting in another record finish and taking the gain for the year to just over 42 percent, dealers said.
The Mumbai stock exchange's 30-share SENSEX rose 74.68 points to 9,397.93, up 42.33 percent from 6,602.69 on Dec. 31, 2004.
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