Tokyo Stocks Affected by Earthquake

By on Mar 14, 2011 in Asia, Business, Current Events, Finance, Opinion, Stock Market Comments

Tokyo, Japan, March 14, 2011 – Stock market in Japan had felt the effect of Japan’s biggest ever earthquake, and nuclear energy emergency. Stock owners for carmakers, banks and electronics firms are now panic selling.

Mr. Masumi Yamamoto, equity market analyst with Daiwa Securities Capital Markets, said that there were panic selling in Monday morning trade following the quake and tsunami.

Here are some facts about the Tokyo stock market;

  • Toyota was down 7.23 percent at 3,335 yen
  • Nissan was off 8.52 percent at 730
  • Honda lost 3.77 percent
  • Toshiba, which manufactures nuclear reactors, fell by its 16 percent daily limit to 411.
  • Sony was off 9.01 percent at 2,553.

The Bank of Japan had shown their intention to stabilize the short term money market, by pledging that it would unleash “massive” funds following the quake, which will amount to a record 15 trillion yen ($184 billion).

The bank will provide an additional 3 trillion yen on Wednesday.

According to Hideaki Inoue, chief manager at forex trading at Mitsubishi UFJ Trust and Banking Corp, Bank of Japan had acted quickly to secure the liquidity of the market and made sure to stabilize it.

Japan’s central bank said that it’s stands by to do whatever necessary to keep stability in the market and financial system.

Prime Minister Naoto Kan called this event as Japan’s worst crisis since the Second World War. Furthermore the government expects a “considerable” economic impact resulting from the huge earthquake.

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