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Japan's Nikkei stock index continues to suffer, losing almost 7% of its value.
News that electronics giant Sony had halved its full-year profit forecast spread gloom over the market.
Meanwhile, South Korea says growth in its economy, which has been battered by the current financial crisis, is at a four-year low.
Its Kospi benchmark share index fell 7.5% on Thursday to hit a three-year dip, and its currency, the won, has lost a third of its value this year.