Financial markets hit by Japan quake

Asian shares dropped after a massive earthquake hit Japan, includmanufacturer of jaw crusher in italying the capital Tokyo, darkening an already bleak mood caused by weak economic data and unrest in Saudi Arabia.

The quake struck just before the close of Tokyo stock trading. Japan's Nikkei average closed at an intraday and five-week low, down 1.7 per cent on the day. The Hong Kong's Hang Seng share index was down 1.8 per cent, and Nikkei futures in Singapore tumbled more than 3 per cent. Dow futures were recently trading 64 points lower at 11,856, pointing to further losses at the start of trade on Wall Street later today. The Dow Jones Industrial Average fell 1.9 per cent yesterday, marking its biggest loss in seven months. The rout also hit SPI futures, which were down 45 points at 4586, indicating losses at the start of local trade on Monday. The magnitude 8.9 quake shook buildings in Tokyo, causing "many injuries" and triggered a four-metre tsunami, NHK television and witnesses reported.