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Japanese stocks suffered their biggest daily fall in more than five years on Friday after Britain voted to leave the European Union, roiling financial markets and raising fears of a shock to the already fragile global economy.

The Nikkei .N225 ended down 7.9 percent at 14,952.02 points, after falling as low as 14,864.01 at one point, its weakest since October 2014

China stocks fell more than 1 percent on Friday as Britain's vote to leave the European Union shocked global financial markets, but the country's tight capital controls curbed the sort of heavy selling which pummelled other Asian markets.

Both the blue-chip CSI300 index .CSI300 and the Shanghai Composite Index .SSEC lost 1.3 percent to 3,077.16 and 2,854.29points, respectively.

Hong Kong stocks tumbled on Friday, joining the global market rout after Britain voted to leave the European Union.

But the mid-session panic-selling triggered by the Brexit vote also attracted bargain hunting, which in the afternoon helped the market recover much of its losses in heavy trading.

At the close, the benchmark Hang Seng index was down 2.9 percent, to 20,259.13, while the China Enterprises Index also had lost 2.9 percent, to 8,530.10 points.

Reference: Reuterห