Nikkei: 8,628.13 (–91.11) Hang Seng: 19,486.87 (+86.95) Shanghai Comp: 2,515.86 (–18.50): SHARP LOSSES for Japanese exporters helped drive the Nikkei 225 Average to its lowest close for five months yesterday, as investors fretted about the global economic outlook and the persistent strength of the yen.

The yen touched a record high against the dollar late on Friday.

The currency’s strength weighed on exporters. Toyota fell 2.5 per cent to ¥2,700, industrial robot maker Fanuc shed 4.1 per cent to ¥11,650 and Nikon retreated 0.9 per cent to ¥1,596.

South Korean stocks were among the biggest fallers. Car makers were hit hard, with Hyundai tumbling 5.3 per cent to Won161,500 and its affiliate Kia down 5.6 per cent at Won59,000.

Oil refineries also suffered steep losses, with SK Innovation down 7.7 per cent at Won132,000 and S-Oil 8.3 per cent softer at Won94,500.

Sydney had a choppy session. Bow Energy soared 60 per cent to A$1.415, short of a A$1.48 a share offer made by Arrow Energy.

But in Hong Kong, the Hang Seng index closed 0.5 per cent higher as banking heavyweight HSBC put in a late 2 per cent rally to HK66.50. – (Copyright The Financial Times Limited 2011)