Market Report - Asian Shares Lower

ZHANG:
Japan's Nikkei opened down today. Investors moved to lock in their profits after three days of big gains ahead of the Bank of Japan's decision on interest rates. Japan's central bank is expected to join the wave of global rate cuts. Japan may lower its already rock-bottom interest rates for the first time in seven years.

Hong Kong shares slid nearly 4 percent shortly after the open, as stocks tracked soft regional markets. Investors there also locked in profits after three days of sharp gains fuelled by a series of interest rate cuts worldwide.

Korea shares opened lower after a record daily rally of almost 12 percent in the previous session. The KOSPI posted its biggest-ever daily percentage gain on Thursday.

And Australian shares nudged down shortly after the morning with resource stocks pegged back as commodities prices resumed their downtrend, though hopes for global interest rate cuts offered some support.

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