Asian stock markets were lower on Friday, with Japan's Nikkei index falling after a leading credit ratings agency downgraded the country's long-term sovereign debt rating on concern over its massive debt. Meanwhile, investors traded with caution ahead of Friday's release of U.S. growth data in the October-December quarter. Japan's benchmark Nikkei 225 stock average lost 96.69 points, or 0.9 percent, to 10,381.97 in the morning session. Investors dumped shares in banks, which own large amounts of government bonds. Australia's S&P/ASX 200 was down 0.5 percent at 4,884.10. South Korea's Kospi declined 0.7 percent to 2,099.62. Elsewhere, China's Shanghai Composite index lost 0.4 percent to 2,738.48. Hong Kong's Hang Seng fell 0.8 percent to 23,586.43. Shares in Indonesia, Malaysia and Singapore were all lower Friday.In currencies, the dollar fell to 82.70 yen in Tokyo Friday from 82.88 yen in New York late Thursday. The euro was flat at $1.3701.Benchmark crude for March delivery was down 50 cents at $85.13 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell $1.69 to settle at $85.64 a barrel on Thursday.
