Investing.com - Asian shares fell sharply on Friday as investors scurried for cover with a referendum on the U.K. remaining or exiting the European Union coming down to the wire as votes are tallied.
The Nikkei 225 plunged 3.05%, while the S&P/ASX 200 dropped 3.00% and the Shanghai Composite fell 1.61%.
Updated poll figures on the U.K. referendum on membership of the European Union have led analysts and betting oddsmakers to expect a nearly split vote between "Remain" and "Leave."
Analysts at JP Morgan, based on results, said they were pointing to 51.5% to 48.5% for Leave, while bookies leaned that way as well. Sterling plunged on the early results, falling from close to $1.50 as the last polls were published to below $1.40.
The initial shock came from a crushing victory for 'Leave' in Sunderland in the north-east of England. There have since been a string of results that have been markedly stronger for 'Leave' than pundits had expected.
The one remaining hope for the Remain camp was that London would come out very strongly for staying in, with the first sizeable constituency, Lambeth, coming out 79% for 'Remain'.
Final results are due early in London on Friday.
Overnight, U.S. stocks were higher after the close on Thursday, as gains in the Financials, Oil & Gas and Basic Materials sectors led shares higher.
At the close in NYSE, the Dow Jones Industrial Average added 1.29% to hit a new 1-month high, while the S&P 500 index added 1.34%, and the NASDAQ Composite index gained 1.59%.