Asian markets generally lower (MarketWatch) (18-07-2008)

HONG KONG (MarketWatch) -- Most Asian markets became mired in negative territory on Friday, paring morning session gains, as investors turned cautious following disappointing U.S. quarterly reports by Merrill Lynch & Co., Microsoft Corp. and Google Inc.

The Nikkei 225 Average finished the session 0.7% lower at 12,803.70, after rising as high as 12,999.64 earlier in the day. The broader Topix index lost 0.9% to 1,252.43. The drop came ahead of an extended weekend, with Japanese markets closed for a holiday on Monday.

In Hong Kong, the Hang Seng Index ended the morning session 0.1% lower at 21,709.52, after rising to 22,010.94 in the early minutes. The Hang Seng China Enterprises Index, also known as the H-share index, fell 0.7% to 11,976.60.

Elsewhere, South Korea's Kospi slipped 1.1% to 1,509.27, China's Shanghai Composite rose 0.7% to 2,704.17, Singapore's Straits Times Index lost 1% to 2,836.32, Taiwan's Weighted Index gave up 2.3% 6,815.32 and New Zealand's NZX 50 index gained 1% to 3,120.91.

India's Sensitive Index, or Sensex, rose 0.8% to 13,218.06 in late morning trading, while the broader S&P/CNX Nifty gained 0.4% to 3,963.70.

Australia's S&P/ASX 200 fell 1.1% to 4,846.80, dragged down by energy producers such as BHP Billiton, in reaction to the overnight drop in crude prices.

Regional detail

 Source: MarketWatch