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Hong Kong - Markets sank in Asian trade on Thursday as Wall Street's record-breaking streak came to an end, while Tokyo was hit by a stronger yen as investors looked ahead to a Bank of Japan policy meeting.
Tokyo lost 95.95 points to finish at 14 973.53 and Sydney fell 0.46% to 5 428.8, while Seoul eased 0.15% to 2 011.65.
Hong Kong slipped 0.35% to 23 175.02 and Shanghai eased 0.16% to 2 051.71.
Investors stepped back after global markets enjoyed a rally at the start of the week in response to upbeat data from the United States, China and Japan.
While there was a certain amount of profit-taking, analysts suggested some of the losses could be attributed to the World Bank's decision to trim its 2014 global growth forecast to 2.8% from a January estimate of 3.2%.
Regional dealers were given a negative lead from New York, where all three main indexes ended lower.
The Dow snapped a four-day streak of all-time highs, closing down 0.60% to 16 843.88.
The S&P 500 fell 0.35%, and the Nasdaq eased 0.14%.
Jack Ablin, chief investment officer at BMO Private Bank, said the World Bank report "sent a sorry signal to investors".
He also cited the surprise defeat of House Republican Majority Leader Eric Cantor in a Virginia primary battle to a Tea Party-backed candidate. Cantor "was one of the biggest friends of Wall Street and the election of somebody openly antagonistic to Wall Street" sparked worries, Ablin said.
Japan's Nikkei led on Thursday's retreat in Asia as the yen held on to its New York gains against the dollar.
In the afternoon the dollar was worth ¥102.07, against ¥102.03 late in New York afternoon, but well down from ¥102.27 in Tokyo earlier on Wednesday.
The euro bought $1.3528 and ¥138.10 compared with $1.3532 and ¥138.06.
SMBC Nikko Securities general manager of equities Hiroichi Nishi said the Nikkei "continues to look top-heavy at 15 000, and will consolidate, pushed down by the dollar's weakness".
On oil markets, the US benchmark, West Texas Intermediate for July delivery, rose 89 cents to $105.29 while Brent crude for July gained $1.13c to $111.08.
Gold fetched $1 264.20 an ounce at 12:40 compared with $1 262.40 late on Wednesday.
In other markets:
- Taipei fell 0.27% to 9 204.65.
Taiwan Semiconductor manufacturing Co lost 1.2% to Tw$123.5 while Hon Hai was 1.07% lower at Tw$93.4.
- Wellington closed up 0.31% at 5 195.11.
Air New Zealand added 1.79% to NZ$2.27 and Telecom was up 1.12% at NZ$2.715.
- Bangkok dropped 0.46% to close at 1 457.02
Bangkok Bank shed 1.53% or 3.00 baht to close at 193.50 baht, and PTT Plc fell 1.67 % or 5.00 baht to 294.00 baht.
- Jakarta ended down 0.76% at 4 934.41.
Bank Permata gained 0.38% to 1 335 rupiah, while state miner Aneka Tambang slipped 2.58% to 1 135 rupiah.
- Kuala Lumpur fell 0.25% to 1 873.87.
Utility Tenaga Nasional lost 1.0% to 11.66 ringgit, while Telekom Malaysia shed 1.1% to 6.19. Public Bank gained 0.3% to 20.84 ringgit.
- Singapore edged up 0.09% to 3 293.01.
Singapore Airlines inched ahead 0.09% to Sg$10.62 while real estate developer Capitaland gained 0.31% to Sg$3.24.
- Mumbai rose 0.40% to 25 576.21 points.
Rating agency Crisil climbed 9.77% to 1 560.05 rupees, while Godrej Industries rose 6.37% to 345.00 rupees.
- Manila was closed for a public holiday.
