Panic spread across Asia Friday as Britain shocked the world with its vote to leave the European Union.
In Japan, the Nikkei 225 dumped 1,286.33 points, or 7.9%, to 14,952.02, the worst day since since March 15, 2011 when the Nikkei lost 10.6%.
In Hong Kong, the Hang Seng Index jettisoned 609.21 points, or 2.9%, to 20,259.13
The British decision to leave the union surprised many investors, who are now finding themselves in uncertain territory. It's a move that could damage important trade links and business ties between the U.K. and Asia.
Asian companies with sizable British operations are already feeling the pinch. Top Japanese automakers Nissan and Honda own and run some of the U.K.'s largest car factories, and both plunged nearly 9% in Tokyo trading.
The Japanese yen initially weakened to as much as 106.81 against the U.S. dollar in early trade, but tracking a drop in the British pound amid the results from the U.K. referendum, the currency strengthened. The dollar fell to 102.96 against the yen, having briefly fallen below 100 earlier.
Sharp shares tumbled 16.5% on Friday, after the Japan Exchange Group, which operates the Tokyo Stock Exchange, announced the electronics maker would be reassigned from the first section to the second section on the exchange. The first section is for large-sized companies, while the second section is for medium-sized companies.
In Hong Kong, shares of British banks plunged on the back of the U.K. referendum results. HSBC tumbled 6.6%, while Standard Chartered bank shares dropped 9.3%.
Among Australian companies of note, Henderson Group closed down 12% the investment management company is listed both on the Australian Securities Exchange and the London Stock Exchange. Similarly, shares of Clydesdale Bank, which was spun off from the National Australia Bank's U.K. business, finished down 17.5%. BT Investment shares dropped 14.2%
Major Australian banks also sold off, with shares of ANZ off by 4.1%, Commonwealth Bank of Australia down 3.3%, Westpac down 4.4% and National Australia Bank down 3.8%
Gold firms had a field day, with shares of Newcrest closed up 8.8%, Evolution Mining surged 12.3% and Alacer Gold jumped 10.4%.
Energy stocks closed lower, with Santos shares down 5.5%, Woodside Petroleum down 3.1% and Inpex off by 9.1%.
CHINA
The Shanghai CSI 300 dropped 40.16 points, or 1.3%, to 3,077.16
China's yuan has also dived to its weakest level in five years. It's now hovering around 6.61 against the U.S. dollar. Chinese President Xi Jinping had previously urged the U.K. to remain within the European Union.
But the impact overall to China should be fairly limited -- the country remains closed to financial markets, and its exports to the U.K. account for a small portion of the economy.
In other markets
In Korea, the Kospi lost 61.47 points, or 3.1%, to 1,925.24
In Singapore, the Straits Times Index deleted 58.46 points, or 2.1%, to 2,735.39
In Taiwan, the Taiex index doffed 199.69 points, or 2.3%, to 8,476.99
In New Zealand, the NZX 50 docked 153.58 points, or 2.3%, to 6,667.77
The ASX 200 slumped 167.5 points, or 3.2%, to 5,113.18
