"Uncertainty over the impact of the US subprime problems will likely affect Chinese bourses, dragging the benchmark index toward 4,800," said Li Wenhui, an analyst at Huatai Securities.
In currency trading, the US dollar dropped below ¥108 to ¥107.55.
This was its lowest rate since June 2005, but it managed to regain some ground to finish the day at ¥107.82.
The euro capped a string of recent records to climb to a high of US$1.4968 before slipping back to US$1.4918.
TAIPEI
Taiwan's benchmark stock index fell to a 14-week low, pulled lower by declines in the shares of food companies and panel makers.
The Weighted Price Index of the Taiwan Stock Exchange dropped 1.9 percent to 8,342.2, its lowest close since Aug. 17.
BANGKOK
Thailand's main stock index rose 1.9 percent to 824.3 on a rebound in blue chip stocks.
JAKARTA
Indonesia's benchmark rose 0.6 percent to 2,584.3 on bargain hunting.
KUALA LUMPUR
Malaysia's Kuala Lumpur Composite Index rose 0.7 percent to 1,353.6 in thin volume.
MANILA
Philippine shares climbed marginally in trade marred by a technical glitch that kept confused investors on the sidelines.
The Philippine Stock Exchange Index gained 0.5 percent to end at 3,494.4.
SEOUL
South Korean shares declined for their seventh straight session, with the brokerage sector leading losses.
The Korea Composite Stock Price Index, or Kospi, dropped 1.5 percent to 1,772.9.
The Kospi has now lost 10 percent from Wednesday last week.
SINGAPORE
Singapore shares rose in volatile trade, likely tracking Hong Kong's rise because of the lack of direction from Wall Street. The Straits Times Index advanced 0.4 percent to 3,325.9.
SYDNEY
Holidays in the US and Japan drained interest in Australia's share market before the weekend.
Falls in BHP Billiton and major banks were offset by gains in Westfield Holdings, QBE Insurance, Woodside Petroleum, CSL and Brambles. The benchmark S&P/ASX 200 index fell just 4.1 points to 6,330.2.
WELLINGTON
New Zealand stocks rose in a session thin and lethargic due to the US Thanksgiving holiday. The benchmark NZX-50 index rose 0.4 percent to 4,071.
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