Panic spreads through Asia

Asian stocks plunged again on Friday. The yen rose as panic set in after global efforts so far failed to unlock credit markets. Investors doubted a meeting of the Group of Seven rich nations later on Friday could achieve much. Japan's Nikkei share average plunged nearly 12 per cent at one stage and was down 23 per cent for the week -- about twice what it suffered in the week of the 1987 crash.