By Laura He, MarketWatch
HONG KONG (MarketWatch) -- Japanese stocks declined for a fifth
straight day on Friday, ending the week with a solid 1.8% loss, as
a broad selloff in the U.S. and European equities, triggered by
Portuguese bank fears, spread to Asian markets.
The Nikkei Average fell 0.3% to its lowest level in over a week,
while the yen (USDJPY) , a traditional safe-haven currency, edged
up to Yen101.28 from Yen101.30 on Thursday. The broader Topix index
also ended 0.3% lower.
Among top underperforming stocks, semiconductor manufacturer
Renesas Electronics Corp. slid 2.3%, industrial robot maker Fanuc
Corp. lost 1.8%, and console maker Nintendo Co. moved down
1.6%.
However, in other Asian markets, Sydney and Shanghai stocks
moved in the opposite direction, with both the S&P/ASX 200 and
the Shanghai Composite Index finishing up 0.4%.
In Hong Kong, the Hang Seng Index ended flat after a seesaw
session. While banking giant HSBC Holdings dropped 0.4%,
state-owned Bank of China recovered 0.3% after a two-day decline
amid money-laundering accusations by China's state broadcaster
CCTV.
Lenovo Group rallied 2.1%, after latest industry figures from
IDC and Gartner showed the company continued to be the global
leader in personal computer shipments in the second quarter.
Elsewhere, South Korea's Kospi Composite Index settled 0.7%
lower, mainly dragged down by index heavyweight Samsung Electronics
Co. , which tumbled 1.7%.
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