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.
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Tuesday, March 15, 2011
Monday, March 14, 2011
The Nikkei 225 Stock Average dropped 4.4 percent to 9,805.50 at 10:51 a.m
The Nikkei 225 Stock Average dropped 4.4 percent to 9,805.50 at 10:51 a.m
Stocks in Japan extended losses as trading resumed though the worst earthquake on record in the third-biggest economy is unlikely to dent the two-year bull market in global equities.
The Nikkei 225 Stock Average dropped 4.4 percent to 9,805.50 at 10:51 a.m. Tokyo time today. Standard & Poor’s 500 Index futures expiring in June retreated 0.4 percent. Lost production from the Tohoku region where the quake struck might not be enough to spur a recession, Bank of America Corp. said. The Bank of Japan said it will pump a record 12 trillion yen ($146 billion) into the financial system.
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