Asian stocks fell this week, led by exporters such as Toyota Motor Corp and Samsung Electronics Co, after reports showed that some Asian countries' growth and the US economy are slowing.
Westfield Group led a drop among Australian property trusts on concern access to credit will suffer because of a drop in US consumption. Commodities companies gained, led by Woodside Petroleum Ltd and Zijin Mining Group Co (
"The negative impact of outside risks on Asian economies will be stronger this year," said Kwon Hyeuk Boo, who helps manage the equivalent of US$3.2 billion at Daishin Investment Trust Management Co in Seoul. The stock markets' "moves reflect the surrounding environment."
The MSCI Asia Pacific Index fell 0.1 percent this week to 156.05, after a 1.8 percent gain in the previous week. Japan's Nikkei 225 Stock Average lost 4 percent to 14,691.41, the lowest since July 2006. It was open only for the morning session on Jan. 4.
Benchmarks around the region slipped this week, except in China, Hong Kong, Malaysia and India.
TAIPEI
Taiwanese share prices closed 0.45 percent higher on Friday, dealers said.
The weighted index closed up 36.90 points at 8,221.10 on turnover of NT$126.78 billion (US$3.91 billion).
"Asset-backed stocks were favored, as they were perceived as the best choice amid inflation worries," said Frank Lin (
TOKYO
Japanese share prices slumped 4 percent on Friday, hitting the lowest level in 17 months as investors fretted about the health of the US economy and a surge in crude oil prices, dealers said.
They said that a stronger yen also rattled the Tokyo market on its first trading session of the year because of the negative impact on exporter earnings.
The Tokyo Stock Exchange's benchmark Nikkei-225 index fell 616.37 points in a holiday shortened session to 14,691.41, the lowest close since July 19, 2006.
The broader Topix index of all first-section shares lost 63.77 points or 4.32 percent to 1,411.91.
"The market is in a bad shape following the recent fall in US equities," said Yumi Nishimura, a manager for equity marketing at Daiwa Securities SMBC.
HONG KONG
Hong Kong share prices closed 2.35 percent higher as commodity stocks surged on the back of high oil and gold prices, dealers said.
The Hang Seng index closed up 632.41 points at 27,519.69.
"The market was clearly oversold in the previous two trading session so it was time to buy," said Ben Kwong, research head with KGI Securities.
SYDNEY
Australian share prices closed up 0.3 percent driven by gains in banking and mining stocks, dealers said.
The benchmark S&P/ASX 200 index rose 16.1 points to 6,306.8 while the broader All Ordinaries gained 12.8 points to 6,385.4.
SHANGHAI
Chinese share prices closed 0.78 percent higher on Friday, a third straight day of gains, dealers said.
The benchmark Shanghai Composite Index closed up 41.71 points at 5,361.57. The Shanghai A-share Index rose 0.79 percent to 5,626.42. The Shenzhen A-share Index was up 0.96 percent at 1,586.58.
The Shanghai B-share Index rose 0.40 percent to 373.14. The Shenzhen B-share Index fell 0.01 percent to 722.10.
SEOUL
South Korean share prices closed 0.6 percent higher after last-minute bargain-hunting, dealers said.
The KOSPI index closed up 11.17 points or 0.6 percent at 1,863.90.
SINGAPORE
Singapore share prices closed 1.19 percent higher, reversing early falls as investors temporarily set aside concerns about the US economy, dealers said.
The main Straits Times Index closed up 40.73 points at 3,437.79.
KUALA LUMPUR
Malaysian share prices closed 2.2 percent higher at a new record, dealers said. The Kuala Lumpur Composite Index (KLCI) closed up 31.29 points to a closing record of 1,466.67.
BANGKOK
Thai share prices closed 1.31 percent lower on worries over the health of the US economy, dealers said.
The Stock Exchange of Thailand (SET) composite index fell 10.92 points to 821.71, while the blue-chip SET-50 index lost 10.39 points to 598.38.
JAKARTA
Indonesian share prices closed up 1.9 percent on Friday, on strong buying in miners, oil producers and plantation stocks following a rise in commodity prices, dealers said.
The Jakarta composite index was up 50.13 points at 2,765.19.
MANILA
Philippine share prices closed 0.6 percent lower on Friday, dealers said.
The composite index fell 22.01 points to 3,479.37, its weakest finish in two weeks. The broader all-share index slipped 14.50 points to 2,140.03.
WELLINGTON
New Zealand share prices closed 0.57 percent lower, dealers said.
The benchmark NZX-50 index fell 23.11 points to 4,010.82.
MUMBAI
Indian share prices rose 1.68 percent to a record close, dealers said.
The 30-share Mumbai stock exchange SENSEX index rose 341.69 points to a record 20,686.89. The SENSEX also hit a new intra-day high of 20,762.8.
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