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Asian markets extended the week's losses on Friday, following a heavy sell-off in New York and Europe in reaction to another batch of poor Chinese data and flaring tensions in Ukraine. In the afternoon Hong Kong was 1.03 percent lower. Apart from mild bargain-buying gains on Tuesday and Thursday, regional shares have been in a downward spiral this week since China said at the weekend it had seen a surprise trade deficit in February and exports had slumped. With China -- a crucial driver of global growth -- releasing a series of downbeat economic data, investors are shifting into safer investments, predominantly hitting equities.