ASIAN SHARES TUMBLE AFTER BIG QUAKE HIT JAPAN

KUALA LUMPUR, March 12 (Bernama) -- Asian shares tumbled Friday after a massive 8.9 magnitude earthquake hit north-east Japan to join a global decline as economic and geopolitical news added to fears that the economic recovery is slowing.
The benchmark FTSE Bursa Malaysia KLCI fell by 21.29 points, or 1.4 per cent, to 1,495.62 on extended selling pressures.
A dealer said investors were cautious as they monitored developments in Saudi Arabia where activists were calling for a 'Day of Rage' which pushed prices down
"Most of the gains made last week were wiped out on investor concern over the crisis in Libya which was made worst by the earthquake in Japan which riled markets globally," he said.
He said the worsening European debt crisis and Chinese data that showed inflation of 4.9 per cent in February, also affected sentiment.
Japan's Nikkei Average fell to a five-week low after the devastating quake and on worries over unrest in Saudi Arabia.
The broader Asian markets outside Japan fell by about one per cent to extend its drop by more than three per cent for the week as fresh outbreaks of violence in the Middle East kept markets on the edge.
Seoul shares finished lower as global growth fears undermined investor appetite for riskier bets and the rising prices of raw materials looked set to cut into corporate earnings.
The Korea Composite Stock Price Index fell 1.3 per cent to close at 1,955.54 points.
The Shanghai Composite closed 0.8 per cent lower to 2933.79.
The Australian shares dropped 1.2 per cent to log their biggest weekly drop in over nine months.