nuclear-news

Nuclear crisis affects Asian shares

UPDATE: Asian Shares Mostly Lower; Tokyo Hit By Fresh Nuclear Woes – WSJ.com, 17 May, 11, “………In Tokyo, the market continued to struggle in the aftermath of the Fukushima Daiichi nuclear crisis. Data showing stronger-than-expected machinery orders for March failed to buoy sentiment given worries about the outlook following the devastating natural disasters in March.”The nuclear power plant issue seemed to have momentarily calmed down, but investors are once again concerned about the difficulties in achieving a safe shutdown,” said Mizuho Securities equity strategist Tsuyoshi Segawa.Utility plays fell on concerns the group will be saddled with more compensation payments in the wake of Tokyo Electric Power Co.’s acknowledgement Sunday that a partial meltdown occurred at the No. 1 reactor at its Fukushima nuclear power plant sooner than previously suspected. Tepco fell 6.8%, while Chubu Electric Power dropped 2.3% and Tohoku Electric Power slid 3.5%……
Ongoing uncertainty on whether a Japanese government rescue plan for Tokyo Electric will force banks to grant some form of a debt waiver for the beleaguered utility continued to weigh on financial stocks. Sumitomo Mitsui FG lost 1.7% and Mizuho FG slipped 0.8%.

Australia’s benchmark S&P/ASX 200 index trimmed some of its morning losses, but remained weak after slumping to an eight-week low of 4641.4 on heightened risk-aversion…..

UPDATE: Asian Shares Mostly Lower; Tokyo Hit By Fresh Nuclear Woes – WSJ.com

May 17, 2011 - Posted by Christina Macpherson | general