LONDON (CNNfn) - Asia's major markets closed lower on Friday as uncertainty surrounding the U.S. presidential election sidelined investors, leaving technology and telecom stocks vulnerable to the latest decline on Wall Street.
In Japan, the Nikkei average of 225 stocks slipped 71.51 points, or 0.5 percent, to close at 14,988.54, with consumer electronics powerhouse Sony and computer maker Fujitsu leading declines. The index rose 1 percent on the week.
Hong Kong's Hang Seng fell 115.41 points, or 0.7 percent, to end the session at 15,389.39, led by telecommunication-to-ports conglomerate  Hutchison Whampoa and China's biggest computer maker Legend Holdings. The benchmark index finished the week 1.3 percent higher.
"The market's not doing anything, and until there is a result from the U.S. election it won't be going anywhere," said Antony Mak, a broker at Vickers Ballas in Hong Kong.
In Singapore, the Straits Times index lost 17.59 points, or 0.9 percent, to finish at 1,986.2. Contract electronics maker Venture Manufacturing fell 4.1 percent and Chartered Semiconductor Manufacturing slid 6.5 percent. Banks were also losers, with DBS Group Holdings falling 0.5 percent and Overseas Union Bank down 3.5 percent.
Sydney's benchmark S&P/ASX 200 closed down 32.6 points, or almost 1 percent, at 3,300.9. News Corp., the world's fifth-largest media company, slumped 10 percent after a Merrill Lynch analyst lowered her recommendation on the stock to "neutral" from "buy", citing concern about the prospects for advertising revenue.
In the U.S. Thursday, the tech-laden Nasdaq composite index fell 31.35 points, or 1 percent, to 3,200.35 and the Dow Jones Industrial Average declined 0.7 percent to 10,834.25.
In the currency market, the yen traded at ¥107.68 against the U.S. dollar, weakening slightly from ¥107.36 in late trading in New York the previous day.
 In Tokyo, technology and telecom stocks finished the session generally weaker after Dell Computer Corp (DELL: Research, Estimates) lowered its target for sales growth next year to 20 percent, well below its historical annual rate of expansion.
Japan's No. 1 computer maker Fujitsu fell 1.7 percent, Sony, the maker of Vaio laptop computers, declined 2.3 percent and rival Toshiba dropped 1.6 percent. China's biggest computer maker Legend Holdings dropped 3.7 percent in Hong Kong.
Internet investor Softbank, which has big investments in several firms listed on Nasdaq, fell 7.2 percent.
Liquid Audio Japan plunged 15.4 percent after the online music distributor said it now expects its group net loss to widen in the six months ending in December.
But electronic components maker TDK rose 8.8 percent. The company said Thursday after the market closed that its half-year consolidated net profit surged 40 percent on strong demand for parts used in cell phones, computers and other digital devices.
Telecoms slip again
In the telecom sector, the country's biggest phone company Nippon Telegraph and Telephone fell 1.6 percent and its separately listed mobile-phone subsidiary NTT DoCoMo dropped 3 percent.
In Hong Kong, Hutchison Whampoa declined 1.9 percent and Internet and telecom company Pacific Century CyberWorks slipped 1.6 percent.
Property and banking stocks also declined. Cheung Kong (Holdings), the territory's biggest property developer, fell 0.8 percent, Henderson Land dipped 0.8 percent and New World Development shed 1.1 percent.
Bank of East Asia dropped 3.2 percent, Dao Heng Bank fell 2.2 percent and Hang Seng Bank lost 3.2 percent.
Elsewhere in the region, the KOSPI index in Seoul added 0.8 percent, and Jakarta's JSX index rose 1.3 percent.
Manila's PHS Composite and Taipei's Weighted closed little changed, while the KLSE Composite in Kuala Lumpur lost 0.1 percent and Bangkok's SET index slipped 0.2 percent 
--from staff and wire reports
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