Asian stocks sink

Share prices fell sharply on Asian stock markets on Friday because of fears that a recession in Europe and the United States could have an impact on Asia's emerging markets.

Investors placed sell orders on a wide range of shares in Friday trading to minimize risks amid fears of a global recession.

In South Korea, the key index fell by 5.7 percent. Thailand's key index dropped by 5 percent at one point. Hong Kong's fell 3 percent for a brief period during the day.

Market analysts say investors didn't move to buy back shares because the statement issued by the Group of 20 nations on Thursday stopped short of including concrete measures to stabilize the global market.