Markets have experienced an unpleasant day, despite a recent World Bank report that indicated a positive outlook for the developing nations of East Asia.
The World Bank's East Asia Pacific Economic Update, which was released on Friday (April 14), predicted that the developing economies of East Asia would grow by 6.2% for 2017. Strong domestic demand and an increasing demand for exports have bolstered the economies.
China is expected to grow at a steady pace of 6.5% for 2017, amid government stabilisation policies to prevent excess capacity and credit expansion.
Despite the positive outlook, Asian markets on Friday mirrored the Nikkei's decline of 1% on Thursday.
The Hang Seng, S&P/ASX, and Straits Times Index are closed for the Good Friday long weekend.
The following index quotes have been logged at 6.42am BST.
Japan: Nikkei- Down by 0.53% to 18,330.04
The nation's data on industrial production is scheduled to be released later in the day.
Toshiba (-5.47%) emerged as the index's weakest performer.
China: Shanghai Composite- Down by 0.72% to 3,252.350
The Chinese government has lowered its 2017 growth forecast to 6.5%. While some price corrections in the markets are to be expected as a result, the downturn could be short term in nature as the nation transitions from an export-driven economy to one focused on consumption.
India: Sensex- Down 0.61% to 29,461.45
The Sensex has reportedly experienced its worst week with a weekly loss of 0.8%.