Asia shares slip after week's rallies

Hong Kong - Asian shares fell on profit-taking Thursday following four strong sessions as a rally on Wall Street fizzled out, but Sydney pared earlier losses caused by data showing Australian unemployment at a 10-year high.

With few catalysts to drive trade, investors took a breather before the release of fresh data from the United States and China.

Tokyo fell 1.79%, or 265.32 points, to end at 14,534.74 as a stronger yen hit exporters, while Sydney was flat, dipping 2.0 points to 5,308.1. Seoul gave up 0.46%, or 8.88 points, to end at 1,926.96.

Hong Kong fell 0.54%, or 120.26 points, to 22,165.53 and Shanghai was down 0.55%, or 11.56 points, at 2,098.40.

Global markets have so far enjoyed a positive week after a tumultuous time caused by the US Federal Reserve's decision to reduce its stimulus programme for a second time in two months.

The gains came despite last Friday's below-forecast US jobs data. Buying was given extra support on Wednesday by a report showing a huge surge in Chinese exports last month.

The China figures were welcomed after a string of disappointing news, including contracting manufacturing activity, that have indicated a slowdown in the world's number two economy.

Market players will be looking to the release in Beijing on Friday of inflation data.

Sydney shares were hit after the Australian Bureau of Statistics said the jobless rate rose to 6.0% in January -- its worst level since July 2003 -- from 5.8% in December.

The rise comes as the government struggles to manage a bumpy economic transition from a decade-long Asia-led mining investment boom.

It also follows the news earlier in the week that Japanese auto giant Toyota, the last carmaker in the country, will close its Melbourne plant in four years, sounding the death knell for the Australian car industry.

On Wall Street a four-day winning streak came to an end for the Dow and S&P on Wednesday, as investors took their cash off the table ahead of retail sales figures and unemployment benefit claims.

The Dow lost 0.19% and the S&P 500 dipped 0.03% but the Nasdaq rose 0.24%.

In currency trade the dollar was at ¥102.09 against ¥102.50 in New York on Wednesday afternoon.

The euro bought $1.3626 and ¥139.11 compared with $1.3593 and ¥139.33 in US trade.

On oil markets West Texas Intermediate for March delivery eased 61 cents to $99.76, while Brent for March delivery was down 24c at $108.55.

Gold fetched $1 287.40 an ounce at 08:10 GMT compared with $1 287.42 late on Wednesday.

In other markets:

-- Taipei fell 0.51%, or 43.17 points, to 8,467.70.

Taiwan Semiconductor Manufacturing Co was unchanged at Tw$105.0, while leading chip design house MediaTek dropped 1.15% to Tw$429.0.

-- Wellington was flat, edging up 5.56 points to 4,873.53.

Air New Zealand added 0.29% to NZ$1.70 and Telecom was 1.26% higher at NZ$2.42.

-- Manila closed 0.17% lower, dipping 10.59 points to 6,101.72.

Metropolitan Bank and Trust closed 0.56% lower at 79.55 pesos while SM Prime Holdings fell 2.26% to 14.70 pesos.