SINGAPORE: Asian stocks dived on Friday on renewed fears about the global economy following Wall Street's sharp overnight fall.

Chinese share prices plunged 3.29 per cent as investors tracked US losses while fears emerged of a liquidity crunch after an upcoming initial public offering.

The benchmark Shanghai Composite Index, which covers both A and B shares, closed 74.97 points lower at 2,202.45.

Japan's Nikkei 225 plunged 2.8 per cent to end at 12,212.23 points.

Australian's benchmark S&P/ASX 200 dived 2.1 per cent or 102.4 points to end at 4,877.1, while the broader All Ordinaries shed 101.4 points to 4,949.5.

Taiwan share prices closed 1.64 per cent lower while South Korea's KOSPI index ended down 1.55 per cent.

- CNA/ir