One more downfall in Asian markets, Nikkei down by 5%

Today is the fifth consecutive day for the continuous downfall of Major Asian indices. On the other side, Yen and Gold are enjoying the status of safe haven assets. Gold made high of $1263 on Thursday and Yen slipped below 111.00 marks.

The benchmark Nikkei 225 index plunged 5.34% to 14874.64 points on Friday morning in Tokyo, the lowest the index has traded since late 2014, while Japan's broader Topix gauge fell 4.35% to 1,209.91 points.

Mainland Chinese markets are set to re-open on Monday.

South Korea's Kospi index traded 1.98% lower at 1,824.67 points, and Hong Kong's main index, the Hang Seng, opened 1.17% lower at 18,328.20 points, after closing almost 4% lower on Thursday.

Australia's S&P/ASX 200 index was trading 1.06% to 4770.20 points by midday in Sydney.

New Zealand's S&P/NZX 50 index sank 1.16% to 5,917.36 points by mid afternoon in Wellington.

Yesterday, India's BSE Sensex fell over 800 points in a move that saw it close below the 23,000 mark.