Asian stock markets took a nosedive in early trading Friday.

Tokyo's Nikkei index dropped 3.72 percent , to close at 9,300.

Hong Kong's Hang Seng plunged 4.29 percent , to end at 20,946.

Elsewhere, share prices dropped from more than one to more than five percent in Taipei, Sydney, Manila, Shanghai and Wellington.

The dollar was selling at 78.46 yen in currency trading, down four-tenths of a yen from late Thursday.