In Hong Kong, the benchmark Hang Seng Index rose 19 points, or 0.1 percent, to 25,584 on turnover of HK$231.21 billion.
The tech index dropped 15 points, or 0.3 percent, to 4,605 while the China Enterprises Index was flat at 8,490.
Materials, media and IT stocks were among the top performers, while semiconductor and shipping shares were among the biggest losers.
The mainland losses saw the Shanghai Composite Index close down four points or 0.11 percent, at 3,952 on turnover of 970.36 billion yuan.
The Shenzhen Component Index fell 95 points, or 0.68 percent, to 13,953 on turnover of 1.13 trillion yuan while the ChiNext Index dropped 48 points or 1.41 percent, to 3,424 on turnover of 544.25 billion yuan.
Morgan Stanley said A-share sentiment has softened as US yields rise.
But the bank continues to “see scope for improving A-share market dynamics as the largest liquidity overhang fades and global AI trades regain momentum”, it said in a note.
Worries around the risk of liquidity drains from the market have accompanied recent mammoth IPOs such as chipmaker CXMT’s float.
The losses came after the technology-heavy Nasdaq outperformed peers when chipmaker Nvidia’s bumper revenue forecast reaffirmed the strength of the AI boom, fueling gains in technology stocks.
However, Chinese chipmakers fell on Friday after a mid-week rebound.
Chinese biotech shares were also among the biggest decliners.
In Tokyo, the Nikkei ended 273 points, or 0.4 percent, up at 66,405, lifted in large part by tech stocks, although the gains were capped by simmering concerns about inflation and uncertainty about what Federal Reserve chairman Kevin Warsh might signal in his speech at Jackson Hole.
The broader Topix added 29 points, or 0.7 percent, to 4,146, putting it up around two percent for the week, which is better than the 0.6 percent registered for the Nikkei.
In Seoul, the Kospi closed 123 points, or 1.79 percent, lower at 6,788 to log a second weekly decline as the AI optimism following Nvidia’s outlook waned. (Reuters & Xinhua)
