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Asian shares down after Wall Street sinks
PAMELA SAMPSON - The Associated Press

04:50:39AM (ET) Friday,March 11,2011.

BANGKOK (AP) — Asian shares extended losses Friday after the Dow Jones industrial average suffered its biggest one-day drop since August and China reported unexpectedly high inflation.

Oil prices hovered near $103 a barrel as traders worried protests in Saudi Arabia could escalate and hamper production in the world's largest crude exporter. The dollar was down against the yen and the euro.

Japan's Nikkei 225 stock average lost 0.9 percent to 10,337.60, with major auto exporters taking hits amid the gloom. Nissan Motor Corp. was down 1.7 percent and Honda Motor Corp. fell 1.5 percent.

South Korea's Kospi fell 1.2 percent to 1,957.66 and Australia's S&P/ASX 200 was down 1 percent at 4,650.

Hong Kong's Hang Seng index shed 0.8 percent to 23,432.85, with energy shares lower, including China Petroleum & Chemical Corp., the country's largest oil refiner, which fell 1.4 percent.

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* Not certain this was expected...*

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