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Asian stocks close lower
HONG KONG, China (CNN) -- Asian stocks finished the week on a down note Friday, but the losses were relatively light. Japan's Nikkei 225 average ended the day down 0.61 percent at 8,863.26, supported by tech exporters, while the broader Topix index lost 0.72 percent to 860.65. Asia's weakness followed a Wall Street slide on Thursday, where even an upbeat outlook from leading chipmaker Intel could not stop a selloff. Hong Kong looked as if it would suffer the region's biggest fall, but made a late recovery to close down 0.36 percent at 9,973.75. South Korea was off 0.65 percent, Taiwan dipped 0.35 percent after spending the morning in the black and Australia lost 0.43 percent. New Zealand finished just in the red, down 0.07 percent. Markets were closed Friday in Singapore, Malaysia, Indonesia and the Philippines for the Eid al-Fitr holiday to celebrate the end of Ramadan. In the United States, the Dow Jones industrial average fell for the fifth day in a row, down 1.31 percent to 8,623.28 on Thursday, with Nasdaq off 1.37 percent. (U.S. roundup) Mixed messages in TokyoIn Tokyo, the yen's weakness helped some tech stocks such as NEC, up 3.3 percent, and Fujitsu, up 2.46 percent. Toshiba put on 0.8 percent and Sony finished flat at 5,350 yen.
NTT DoCoMo, the market's largest listing, ended down 0.83 percent to 240,000 yen. It is prepared to pass on the chance to maintain its stake in its Dutch partner. (Full story) Sumitomo Mitsui Banking Group fell 2.96 percent to 394,000 yen and Mizuho Holdings lost 1.72 percent to 114,000 yen. But even among banking stocks there was no uniform direction, with UFJ Holdings up 2.88 percent to 107,000 yen and Mitsubishi Tokyo Financial Group putting on 0.43 percent to 702,000 yen. Among automakers, Honda and Nissan finished higher, but Toyota again ran counter to the export trend, down 1.24 percent to 3,180 yen. Two of the biggest losers were Softbank, down almost 7 percent to 1,340 yen, and McDonald's Japan, off 6.4 percent to 2,050 yen, as it slashed forecasts and scaled back expansion plans. Among the gainers was chip-equipment maker Tokyo Electron, which added 3.37 percent to 5,830 yen after Intel raised its sales forecast for the year. (Full story) The yen firmed to 125.05 in late Asian trade, having gone to 125.75, its weakest level since June, overnight. Li & Fung slips in Hong Kong
Hong Kong's Hang Seng index ended down 0.36 percent at 9,973.75, with garment exporter Li & Fung down 3.43 percent at HK$8.45 after poor retail sales in the United States. Small-motor maker Johnson Electric ended higher, up 0.56 percent to HK$8.95. HSBC closed down 0.83 percent at HK$89.75, with other banks also slipping a little. Bank of China Hong Kong is down 1.19 percent to HK$8.30. Sun Hung Kai Properties rose 0.49 percent to HK$51.25 after announcing a major push into the booming Chinese city of Shanghai. (Full story) Sydney stocks easeIn Australia, the S&P/ASX 200 index finished down 0.43 percent at 3,027.3, with media group News Corp. off 1.54 percent to A$12.11 after the Wall Street slip. Flagship carrier Qantas lost 1.35 percent to A$3.66 and other big caps such as banks also headed lower. NAB lost 1.3 percent to A$33.03 and ANZ dropped 2 percent to A$18.08. Woodside Petroleum rose 2.17 percent to A$12.26 despite reporting Thursday that two development options for its Greater Sunrise gas project near East Timor won't work. (Full story) Brambles, the diversified industrial group that suffered sharp losses late last month after a profit warning, put on 2.56 percent to A$4.40. In New Zealand, Auckland International Airport put on 2.52 percent to NZ$5.29 after the Auckland city council said it will sell half its 25.6 percent stake at NZ$4.90 a share to pay off debt. That deal supported the benchmark Top 40 index, which ended almost level, with a 0.07 percent drop to 1,938.04. Telecom New Zealand closed flat at NZ$4.65. Samsung hits SeoulIn Seoul, the Kospi index lost 0.65 percent to 718.09. Chip and cell-phone maker Samsung Electronics eased 0.4 percent to 372,000 won. Hynix Semiconductor lost 1.12 percent to 440 won. But cell-phone operator SK Telecom rose again, up 0.60 percent to 252,500 won, as did steelmaker Posco, putting on 0.8 percent to 126,000 won. Exporters such as Hyundai Motor fell, dipping 0.88 percent, with Daewoo Motor Sales fell a sharp 4.64 percent, despite the won weakening with the yen. Taiwan slipsIn Taiwan, the Taiex dropped 0.35 percent to 4,738.98 after being up in morning trade. China Motor jumped 6.14 percent to T$60.50 after saying Thursday it expects profits at its Chinese joint venture to triple next year. The market's largest listing, TSMC, lost 1.9 percent to T$51.50, and UMC eased 0.38 percent to T$26.40. Screenmaker Au Optronics fell 1.67 percent to T$23.60. Big industrials were firmer, with Formosa Plastic up 1.56 percent. Taipei and Kaoshiung, the two largest cities in Taiwan, have mayoral elections over the weekend that may provide grist for further gains.
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