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A plummeting U.S. dollar was the focus of Asian trade on Friday. The greenback tapped a fresh record low agains the euro in a thin market. The dollar also slid to its lowest level agins the yen in 2 1/2 years...The fall came on a growing view that the U.S. central bank will cut rates next month to help salvage a slowing economy. Japanese markets were shut for a national holiday. Hong Kong stocks gained ground early as investors bought into shares such as China Mobile which have recently suffered. But in a sign of a weakening market a fresh China IPO failed to sparkle at the exchange. Earlier this year Chinese firms listing soared on the debut of trade. Korean stocks fell by 1.5 percent. The falling market was a prime example of caution which has crept in on worries about a slowing U.S. Volatile trade is expected to continue next week. Investors are expected to gauge the strength of early Christmas shopping in the United States, a key indicator of consumer appetite. Tara Joseph-Hui reporting for Reuters. COMPANIES MENTIONED: SYMBOLS: