Bitcoin plunged as much as 5.7 percent after Trump signed an executive order to establish a "Strategic Bitcoin Reserve" without planning any public purchases of the cryptocurrency.

The unit recovered somewhat and was trading down 1.78 percent shortly before 0900 GMT.

Major indices in Asia were in the red despite Trump's move Thursday to delay some tariffs targeting Canada and Mexico.

The halt -- which will last until April 2 -- offers temporary relief to automakers.

But Trump has said he will not modify broad tariffs for steel and aluminium imports, which are due to take effect next week.

"Confusion reigns around the Trump Administration policy agenda," said Chris Weston, head of research at Pepperstone.

Despite the latest tariff pause, "the lack of consistency to hold policy firm further limits the visibility US businesses have to position margins and to make strategic planning decisions", said Weston.

Japan's Nikkei index closed down 2.17 percent while shares in South Korea and Australia also fell, with Sydney off 1.81 percent.

Chinese markets, which had been riding a wave of stimulus-induced optimism, were modestly lower on Friday.

London, Paris and Frankfurt all were down.

Chinese stocks jumped after Beijing announced a growth target of around five percent at its annual meeting of the National People's Congress on Wednesday.

China has vowed to make domestic demand its main economic driver despite facing persistent economic headwinds and an escalating trade war with the United States.

Foreign Minister Wang Yi warned on Friday that Beijing will "firmly counter" US pressure on trade.

"China-US economic and trade ties are mutual. If you choose to cooperate, you can achieve mutually beneficial and win-win results. If you use only pressure, China will firmly counter," he said.

Traders were looking ahead to Friday's US jobs report for February, a key indicator of economic health.

Weekly jobless claims figures released Thursday were better than expected, while Wednesday's private payroll report from ADP lagged estimates.

- Key figures around 0900 GMT -

Tokyo - Nikkei 225: DOWN 2.17 percent at 36,887.17 (close)

Hong Kong - Hang Seng Index: DOWN 0.57 percent at 24,238 (close)

Shanghai - Composite: DOWN 0.25 percent at 3,372.55 (close)

Euro/dollar: UP at 1.0850 from 1.0826

Pound/dollar: UP at 1.2924 from 1.2898

Dollar/yen: DOWN 147.21 from 147.53

Euro/pound: UP at 83.95 pence from 83.72 pence

Brent North Sea Crude: UP 1.15 percent at 70.26 per barrel

West Texas Intermediate: UP 1.19 percent at $67.15 per barrel

New York - Dow: DOWN 1.0 percent at 42,579.08 (close)

London - FTSE 100: DOWN 0.4 percent at 8,648.03

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