A bad week ended on an even worse note for Asian markets Friday, falling sharply on worries about prospects for climbing inflation as crude-oil prices soared to a fresh record.
Tokyo’s benchmark Nikkei 225 index shed 2 percent to 13,544.36. Honda Motor Co. lost 2.7 percent and Sony Corp. dropped 4.3 percent.
Among financials, shares of Mitsubishi UFJ gave up 3.3% and Sumitomo Trust & Banking Co. shed 3.5% in Tokyo.
Hong Kong’s Hang Seng Index trimmed earlier losses to close down 1.8 percent at 22,042.35. Refiner China Petroleum & Chemical Corp, or Sinopec, lost 3.6 percent, and airline Cathay Pacific was down 1.7 percent.
In China, the Shanghai Composite Index sank 5.3 percent to 2,748.43 points.
Elsewhere:
Australia's S&P/ASX 200 skidded 1.3% to 5,237.
South Korea's Kospi sank 1.9% to 1,684.45.
New Zealand's NZX 50 index lost 2% to 3,226.91.
Singapore's Straits Times Index lost 0.8% to 2,955.91.
Philippines' Composite index shed 2.2% to 2,466.28.
with files from other wire services
