Tokyo Shares End Day Down 11%
By COLIN NG And GA-WOON PHILIP VAHN
SINGAPORE—Tokyo shares led Asia stock markets lower, with the main index dropping 11% amid widespread worries about the possibility of a nuclear catastrophe. An afternoon bounce brought them back from a bottom more than 14% down.
Japanese stocks were pressured by news of another explosion at the Fukushima Daiichi nuclear power plant, this time at its No. 4 reactor. This was shortly after radiation levels rose sharply as the No. 2 reactor suffered an explosion following damage to its suppression pool. Japan's prime minister Naoto Kan said there's a high risk of elevated levels of radiation from the crippled reactors, and urged people within 30 kilometers of the plant to stay indoors.