SHARES fell Friday, March 11, 2022, in Asia as uncertainty over the war in Ukraine and persistently high inflation kept their sway over markets.Hong Kong fell 3.2 percent and Tokyo was 2.6 percent lower.Investors are fretting over how the world economy may struggle with price pressures and slowing growth.A plan to revoke Russia’s most favored nation trade status over its invasion of Ukraine added to unease over the economic repercussions of the deepening conflict after talks between foreign ministers of the two countries failed to show any concrete progress.US President Joe Biden plans to announce the change Friday, according to a source familiar with the matter who spoke on the condition of anonymity to preview the announcement.Pressure has been building in Washington to revoke what is formally known as “permanent normal trade relations” with Russia, allowing the US and allies to impose tariffs on Russian imports.Tokyo’s Nikkei 225 index was down 660 points at 25,032.61 and the Hang Seng in Hong Kong shed 667 points to 20,222.79.The Shanghai Composite index lost 2.2 percent to 3,224.92 after Chinese Premier Li Keqiang, the country’s No. 2 leader, said the government hopes to generate as many as 13 million new jobs this year while trying to reverse a painful economic slowdown.Premier Li Keqiang promised “pro-job policies” including tax and fee cuts totaling 2.5 trillion yuan (US$400 billion) for businesses. Economic growth slid to four percent over a year earlier in the final quarter of 2021, down from the full year’s 8.1 percent expansion.Surging coronavirus cases in both the Chinese mainland and Hong Kong have added to concerns dogging their markets.The Kospi in Seoul declined 1.1 percent to 2,651.22. In Australia, the S&P/ASX 200 gave up 0.7 percent to 7,079.10. India gained 0.2 percent but other regional markets declined.Investors are keeping to the sidelines ahead of the weekend, given the potential for big surprises while markets are closed, analysts said. (AP)