Japan's Nikkei down 5% in the first session after quake Skip to main content

Japan's Nikkei down 5% in the first session after quake

Nikkei 225 Index

Last Updated at 14 Mar 2011, 00:15 GMT Nikkei 225 one month chart
value change %
9844.65 -
-409.78
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-4.00
Japanese shares plummeted at the open on Monday morning, the first trading day after the massive earthquake that hit Japan's northeast shore.
The benchmark Nikkei 225 Index fell 5% as trading resumed.
The quake hit Japan just before the markets closed on Friday.
Bank of Japan governor Masaaki Shirakawa announced that the central bank will inject 7 trillion yen ($85bn; £52.9bn) into the banking system to keep the markets stable.
The fall in the share markets had been widely predicted, especially of companies directly impacted by the earthquake and tsunami.
"Stocks will probably fall on Monday, especially of those companies that have factories in the affected areas, but on the whole the sell-off will likely be short-lived," said Mitsuhsige Akino, a fund manager at Ichiyoshi Investment Management.
Analysts have been encouraged by the resilience of the stock markets in Australia and New Zealand after the recent natural disasters there.
"In the medium term, the impact on markets is not likely to be that great," said Arjuna Mahendaran of HSBC private bank.
Regional reaction Elsewhere in the region, the main markets have also fallen, though the declines were smaller than those seen in Japan.
South Korea's Kospi share index slid 0.1%.
However in some sectors, notably technology and carmakers, shares have been gaining.
Investors are betting on increased orders for Korean goods as production is suspended in many of Japan's factories.
Singapore's STI index shed more than 1% and Taiwan's main index dropped 0.8%.

http://www.bbc.co.uk/news/business-12710555

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