KUALA LUMPUR
KUALA LUMPUR - MALAYSIAN share prices closed 0.5 per cent lower on Friday due to profit-taking on continued fears over the US economy and domestic political concerns, dealers said.

The Kuala Lumpur Composite Index lost 6.51 points to 1,194.84, off a high of 1,213.61.

Malaysia's political landscape was sharply changed in recent polls, when the opposition made substantial inroads even as the ruling party retained government.

HONG KONG
Hong Kong stocks accumulated more losses on Friday, adding to the last session?s sharp declines, as investors remained on edge as record oil prices and more bad news in credit markets took their toll.

Record crude prices dented Sinopec further, with investors fearing that the oil refiner may face losses from a double blow of high input prices and caps on prices of some refined products.

The benchmark Hang Seng Index ended down 0.3 per cent at 22,237.11. The China Enterprises Index of Hong Kong-listed mainland companies , or H shares, finished down 1.7 per cent at 11,891.42.

SHANGHAI
Chinese share prices closed 0.22 per cent lower on Friday led by financials and property developers amid fears that a fresh round of interest rate hikes are imminent, dealers said.

Investors remained worried as soaring inflation is likely to trigger a new round of tightening measures, potentially battering corporate profits, they said.

The benchmark Shanghai Composite Index, which covers both A and B shares, fell 8.58 points to 3962.67 on turnover of 64.29 billion yuan (S$12.5 billion)

The Shanghai A-share Index was down 8.91 points or 0.21 per cent to 4,157.52 on turnover of 64.05 billion yuan.

The Shenzhen A-share Index shed 11.29 points or 0.86 per cent to 1302.12 on turnover of 28.53 billion yuan.

TOKYO
Japan's benchmark Nikkei average closed at a more than two-and-a-half-year low on Friday as the dollar fell back below 100 yen, dragging exporters such as Toyota Motor Corp with it.

Sumitomo Realty & Development Co Ltd and other property firms extended losses after a research firm said on Thursday that sales of new apartments in Tokyo fell to a 15-year low for February.

The Nikkei ended trade at 12,241.60, down 1.54 per cent, its lowest close since Aug. 10, 2005. The broader Topix closed down 1.9 per cent, also its lowest close since early August 2005. -- BERNAMA, AFP, REUTERS