HONG KONG (AFP) - Asian markets slipped Friday with Hong Kong tumbling more than one per cent as pro-democracy protesters in the territory clashed with police outside government offices on Friday morning.

Hong Kong, which was closed for two days of public holidays, fell 1.36 per cent, while Tokyo was down 0.19 per cent at the break and Sydney was flat. Shanghai, Mumbai and Seoul were closed for holidays.

Despite an eleventh-hour agreement for talks with the government of Chief Executive Leung Chun-ying, more than 100 protestors remained outside the government complex which is now the focal point of protests that have brought parts of the city to a standstill for five days.

And on Friday China reiterated its tough stance ahead of the first popular ballot in 2017 to choose the Hong Kong leader, saying there was "no room to make concessions on important principles".