ASIA MARKETS: Japan Stocks Fall For Fifth Day On Portugal Bank Fears

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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