China holds back Asian shares

HONG KONG, Nov 5 (Reuters) - Chinese markets dragged on Asian shares on Friday as they failed to latch on to a global record-setting rally after a week in which central banks around the world refrained from any hawkish surprises in a boost to the dollar.

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 0.26% while Japan's Nikkei (.N225) slid 0.5%, albeit from a month high reached the day before.

Hong Kong (.HSI) weighed on the regional index, falling 1.25%, pressured by index heavyweight HSBC as the rate sensitive bank's shares tumbled nearly 5%, hurt by the BoE's dovish call, as well as by property stocks.

Also in Hong Kong, trading in shares of Chinese developer Kaisa Group Holdings Ltd (1638.HK) was suspended, a day after the company said a subsidiary had missed a payment on a wealth management product, the latest sign of a deepening liquidity crisis in the Chinese property sector.

An index tracking Hong Kong listed mainland Chinese developers (.HSMPI) slipped 1.5%, and spreads on Chinese high-yield dollar debt (.MERACYC) hovered near record highs.

Shanghai shares (.SSEC) lost 0.24% though Chinese blue chips (.CSI300) edged up 0.1%.

In contrast, Australia's S&P/ASX 200 index (.AXJO) was set to notch its best week since late-May, and was up 0.5% on the day.

Share markets globally were strong, with MSCI's gauge of stocks across the world (.MIWD00000PUS) hitting a new all-time high on Thursday. It edged down 0.1% in early Asia.