Most Asian markets slipped Friday as some investors took profits after days of gains and others worried about a drop on Wall Street, REPORTED AP. For a second straight day, Japanese stocks declined as investors sold shares in exporters like automakers and Sony. The benchmark Nikkei 225 stock index lost 215.76 points, or 1.22 percent, to settle at 17,481.21 points. Speculation that the U.S. Federal Reserve might not cut interest rates weighed on sentiment, as did Thursday's 0.6 percent drop in the Dow Jones industrial average. Toyota Motor Corp. fell 1.49 percent to 7,280 yen (US$60.17), while Nissan Motor shed 1.8 percent to 1,334 yen (US$10.98). Sony Corp. fell 1.3 percent to 6,860 yen (US$56.47). In China, stocks bucked the regional downward trend and rose to a record high as investors shrugged off comments earlier this week by former Federal Reserve Chairman Alan Greenspan, who warned of an impending correction for red-hot mainland shares. Chinese stocks advanced as foreign currency shares rebounded from losses the day before. The benchmark Shanghai Composite Index gained 0.7 percent to 4,179.78, its highest ever settlement. It is up 56 percent since the start of this year, after soaring 130 percent last year. The Shenzhen Composite Index rose 1.6 percent to 1,235, also a record close. But Greenspan's comments spooked investors in Hong Kong, which took the day off on Thursday to mark Buddha's birthday. The blue chip Hang Seng Index fell 278.31 points, or 1.3 percent, to 20520.66. Heavyweight China Mobile fell 2 percent to HK$72.15, while Chinese financial stocks also closed lower. China Life dropped 3 percent to HK$24.85, ICBC fell 2 percent to HK$4.11, and Bank of China lost 1 percent to HK$3.85. In currencies, the U.S. dollar was trading at 121.26 yen Friday afternoon, down from 121.39 yen late Thursday in New York. The euro fell to US$1.3422 from US$1.3433.
