Major Asian equities found little direction on Friday with concerns over the credit crisis still at the forefront of investors minds as were anxieties over slowing economies.

Disappointing earnings from Merrill Lynch, the US investment bank, weighed on financial stocks, particularly in Australia. National Australia Bank lost 1.2 per cent to A$27.01, while Macquarie Group fell 3.8 per cent to A$45.92 and ANZ shed 1 per cent to A$18.21.