NEW YORK, Dec 18 (Reuters) - Rates banks charge each other for U.S. dollar-denominated funds slid to fresh 4-1/2 year lows on Thursday in the wake of the U.S. Federal Reserve's move this week to keep interest rates at rockbottom levels for a sustained period.

The Fed's dramatic measure that sent its target rate to a record low range of zero to 0.25 percent has helped to unlock credits for cash-strapped borrowers, but it has not been the immediate jolt that some traders had hoped.

TOKYO, Dec 19 (Reuters) - Japan's Nikkei stock average fell 0.3 percent on Friday, hurt by a slide on Wall Street.

The benchmark Nikkei .N225 shed 27.01 points to 8,640.22, after dipping 0.6 percent the previous day.

The broader Topix .TOPX was flat at 838.06.

HONG KONG, Dec 18 - Hong Kong shares edged up 0.2 percent on Thursday with 3.4 percent drop in HSBC Holdings countering some of the gains in Chinese industrial stocks on hopes for more economic stimulus measures from Beijing.

Badly-battered Macau casino stocks outperformed on year-end short covering and expectations that tight travel restrictions for mainland Chinese gamblers will be relaxed.

"We expect the Mainland Chinese visa restrictions to be lifted by mid-next year, which will drive a rebound in visitation into Macau once again. With this in mind, we still believe that the longer term fundamentals for Macau's gaming sector remain sound," said Gary Pinge, gaming analyst with Macquarie in Hong Kong.

Dec. 18 (Bloomberg) -- The dollar traded near a 13-year low versus the yen and at the weakest level against the euro since September as the Federal Reserve’s near-zero interest rate policy reduces the appeal of holding U.S. assets.

The greenback also slid to a two-month low against the Australian dollar as longer-term Treasury yields fell and U.S. stocks declined on speculation the Fed has few tools left to combat a recession. Investors including hedge funds reversed bets the dollar will appreciate to minimize losses as the end of the year approached, traders said.

Dec. 18 (Bloomberg) -- Japan's benchmark stock index, the Nikkei 225 Stock Average, fell 0.55 percent at 9:05 a.m.

The index of 225 companies traded on the Tokyo Stock Exchange  fell 47.18 at 8,565.34. Among the stocks in the index, 53 rose, 100 fell and 72 were unchanged.

Declines in the Nikkei 225 were led by Fast Retailing Co Ltd, Kyocera Corp and Eisai Co Ltd. About 92.97 million shares changed hands on the first section of the Tokyo Stock Exchange.

Nintendo Co Ltd, which fell 700 yen to 34,650 yen, was the most active stock by value in Japan.

The next most-active issues were Mitsubishi Ufj Financial Group Inc, which fell 1 yen to 518 yen, and Sumitomo Mitsui Financial Group Inc, which was unchanged at 354,000 yen.