Mubasher: Japan's share indices closed Friday with the biggest weekly losses seen since 2008 as investors sells high-risk assets.

Nikkei share average shed 4.8% to end at 14,952.61 points; its lowest level since October, 2014. The index lost 11.1% last week.

Vehicle assemblers' shares tumbled, as Toyota and Honda Motors went down by 6.8% and 5.5% in a row.

The broader Topix index sagged 5.4% to 1,196.28 points.