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    <title>Business Recorder - Markets - Financial</title>
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    <pubDate>Thu, 13 Aug 2026 17:35:12 +0500</pubDate>
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      <title>Japan quake, tsunami send most Asian shares lower</title>
      <link>https://www.brecorder.com/news/6996/japan-quake-tsunami-send-most-asian-shares-lower</link>
      <description>&lt;p&gt;&lt;img style="margin-right: 10px; float: left;" src="https://i.brecorder.com/images/stories/stocks_400.jpg" width="400" height="375" /&gt;&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;HONG KONG: Asian stock markets were broadly lower Monday, with Tokyo tumbling more than six percent after last week's devastating earthquake and tsunami as well as fears of a nuclear reactor meltdown.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;The yen hit a four-month high before Japan's central bank pumped a record amount of money into financial markets, while nuclear plant operator TEPCO dived almost 24 percent.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Auto makers were also hammered after being forced to halt production in areas hit by the quake and tsunami, which it is feared may have killed over 10,000 people.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Tokyo's Nikkei stock index slumped 6.18 percent, or 633.94 points, to 9,620.49, its sharpest percentage loss since December 2008 at the height of the global downturn.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;The index is also at its lowest level in four months.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Fears have been stoked as scientists worked to try to prevent a catastrophic meltdown at the Fukushima-Daiichi nuclear plant near Tokyo, which has been hit by explosions in two reactors while the cooling system in a third has failed.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;TEPCO, the plant's operator, tumbled 23.57 percent.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Among carmakers, Toyota and Nissan plunged more than 10 percent at one point before recovering slightly.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;At the end of the day Toyota was down 7.92 percent to 3,310 yen, Honda dropped 6.49 percent to 3,095, and Nissan lost 9.52 percent to 722 yen.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Sydney ended 0.40 percent, or 18.4 points, lower at 4,626.4 and Taipei closed 0.56 percent, or 47.80 points, off at 8,520.02.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;However, steel companies and construction firms in Seoul, Shanghai and Tokyo got a boost on hopes for a pick-up in demand following the quake and tsunami.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Hong Kong closed 0.41 percent, or 96.10 points, higher at 23,345.88 and Shanghai added 0.13 percent, or 3.83 points, to end on 2,937.63.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Seoul staged a late rebound and closed 0.80 percent, or 15.69 points higher at 1,971.23.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;As the Nikkei sank to lows not seen since November, the Bank of Japan injected 15 trillion yen ($182 billion) into the short-term money market to support confidence.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;The fund provision is the largest ever by the central bank, which also held its key interest rate and increased an asset purchase scheme to boost the ailing economy.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;"We will take every possible measure, including providing liquidity, to ensure the stability of financial markets and smooth settlements (of business deals)," a bank spokesman said.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;The BoJ's cash injection pushed the yen back from a four month high versus the greenback.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;The Japanese unit was at 80.60 to the dollar, its highest since November, as dealers bought into the safe-haven unit before easing back after the liquidity push flooded the market with cash.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;In early European trade, the dollar was sitting at 81.79 yen against 81.91 in New York late Friday. The euro traded at 114.09 yen, compared with 113.89 in New York.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Prime Minister Naoto Kan said in a televised national address Sunday that the country was facing its worst crisis since the end of World War II.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;"The current situation of the earthquake, tsunami and the nuclear plants is in a way the most severe crisis in the 65 years since World War II," he said.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Oil slipped on concerns that demand from Japan will drop off.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;New York's main contract, light sweet crude for delivery in April, dipped $1.33 to $99.83 per barrel, and Brent North Sea crude for April delivery was down $1.81 to $112.03 in the afternoon.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;However, Chen Xin Yi, commodities analyst for Barclays Capital, said that prices were likely to pick up later as fuel oil imports rise due to the lost nuclear power capacity.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Gold closed at at $1,427.00-$1,428.00 an ounce in Hong Kong, up from Friday's close of $1,415.00-$1,416.00.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;In other markets:&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;-- Singapore closed down 0.41 percent, or 12.63 points, at 3,030.86.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;DBS Bank rose 0.70 percent to Sg$14.46, while SingTel fell 0.34 percent to Sg$2.95.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;-- Kuala Lumpur closed flat, edging down 0.27 points to 1,495.35.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;State-owned power firm Tenaga Nasional shed 2.70 percent to 6.03 ringgit, Petronas Gas was down 2.40 percent at 11.24 while glove-maker Top Glove rose 3.30 percent to 5.05.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;-- Jakarta ended 0.78 percent, or 27.61 points, higher at 3,569.84.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;-- Manila finished 0.14 percent, or 5.65 points, lower at 3,918.70.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Aboitiz Equity Ventures was down 1.0 percent at 41 pesos, Metropolitan Bank &amp; Trust fell 1.3 percent to 62.05 and Philippine Long Distance Telephone lost 0.9 percent to 2,180.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;-- Wellington ended 0.64 percent, or 21.64 points, lower at 3,361.20.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Telecom fell 2.7 percent to NZ$1.99, insurer Tower dived 3.8 percent to NZ$1.79 and Air New Zealand slipped 1.65 percent to NZ$1.19 while Contact Energy lost 0.50 percent to NZ$5.94.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;-- Bangkok rose 1.57 percent, or 15.83 points, to 1,022.89.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Banpu jumped 30.00 baht to 750.00 and PTT Plc added 6.00 baht to 349.00.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;-- Mumbai closed 1.46 percent, or 265.39 points, higher at 18,439.48.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;&lt;Center /&gt;&lt;b&gt;&lt;i&gt;Copyright AFP (Agence France-Presse), 2011&lt;/b&gt;&lt;/i&gt;&lt;/center&gt;&lt;/p&gt;
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      <content:encoded xmlns="http://purl.org/rss/1.0/modules/content/"><![CDATA[<p><img style="margin-right: 10px; float: left;" src="https://i.brecorder.com/images/stories/stocks_400.jpg" width="400" height="375" /></p>
<p class="MsoPlainText">HONG KONG: Asian stock markets were broadly lower Monday, with Tokyo tumbling more than six percent after last week's devastating earthquake and tsunami as well as fears of a nuclear reactor meltdown.</p>
<p class="MsoPlainText">The yen hit a four-month high before Japan's central bank pumped a record amount of money into financial markets, while nuclear plant operator TEPCO dived almost 24 percent.</p>
<p class="MsoPlainText">Auto makers were also hammered after being forced to halt production in areas hit by the quake and tsunami, which it is feared may have killed over 10,000 people.</p>
<p class="MsoPlainText">Tokyo's Nikkei stock index slumped 6.18 percent, or 633.94 points, to 9,620.49, its sharpest percentage loss since December 2008 at the height of the global downturn.</p>
<p class="MsoPlainText">The index is also at its lowest level in four months.</p>
<p class="MsoPlainText">Fears have been stoked as scientists worked to try to prevent a catastrophic meltdown at the Fukushima-Daiichi nuclear plant near Tokyo, which has been hit by explosions in two reactors while the cooling system in a third has failed.</p>
<p class="MsoPlainText">TEPCO, the plant's operator, tumbled 23.57 percent.</p>
<p class="MsoPlainText">Among carmakers, Toyota and Nissan plunged more than 10 percent at one point before recovering slightly.</p>
<p class="MsoPlainText">At the end of the day Toyota was down 7.92 percent to 3,310 yen, Honda dropped 6.49 percent to 3,095, and Nissan lost 9.52 percent to 722 yen.</p>
<p class="MsoPlainText">Sydney ended 0.40 percent, or 18.4 points, lower at 4,626.4 and Taipei closed 0.56 percent, or 47.80 points, off at 8,520.02.</p>
<p class="MsoPlainText">However, steel companies and construction firms in Seoul, Shanghai and Tokyo got a boost on hopes for a pick-up in demand following the quake and tsunami.</p>
<p class="MsoPlainText">Hong Kong closed 0.41 percent, or 96.10 points, higher at 23,345.88 and Shanghai added 0.13 percent, or 3.83 points, to end on 2,937.63.</p>
<p class="MsoPlainText">Seoul staged a late rebound and closed 0.80 percent, or 15.69 points higher at 1,971.23.</p>
<p class="MsoPlainText">As the Nikkei sank to lows not seen since November, the Bank of Japan injected 15 trillion yen ($182 billion) into the short-term money market to support confidence.</p>
<p class="MsoPlainText">The fund provision is the largest ever by the central bank, which also held its key interest rate and increased an asset purchase scheme to boost the ailing economy.</p>
<p class="MsoPlainText">"We will take every possible measure, including providing liquidity, to ensure the stability of financial markets and smooth settlements (of business deals)," a bank spokesman said.</p>
<p class="MsoPlainText">The BoJ's cash injection pushed the yen back from a four month high versus the greenback.</p>
<p class="MsoPlainText">The Japanese unit was at 80.60 to the dollar, its highest since November, as dealers bought into the safe-haven unit before easing back after the liquidity push flooded the market with cash.</p>
<p class="MsoPlainText">In early European trade, the dollar was sitting at 81.79 yen against 81.91 in New York late Friday. The euro traded at 114.09 yen, compared with 113.89 in New York.</p>
<p class="MsoPlainText">Prime Minister Naoto Kan said in a televised national address Sunday that the country was facing its worst crisis since the end of World War II.</p>
<p class="MsoPlainText">"The current situation of the earthquake, tsunami and the nuclear plants is in a way the most severe crisis in the 65 years since World War II," he said.</p>
<p class="MsoPlainText">Oil slipped on concerns that demand from Japan will drop off.</p>
<p class="MsoPlainText">New York's main contract, light sweet crude for delivery in April, dipped $1.33 to $99.83 per barrel, and Brent North Sea crude for April delivery was down $1.81 to $112.03 in the afternoon.</p>
<p class="MsoPlainText">However, Chen Xin Yi, commodities analyst for Barclays Capital, said that prices were likely to pick up later as fuel oil imports rise due to the lost nuclear power capacity.</p>
<p class="MsoPlainText">Gold closed at at $1,427.00-$1,428.00 an ounce in Hong Kong, up from Friday's close of $1,415.00-$1,416.00.</p>
<p class="MsoPlainText">In other markets:</p>
<p class="MsoPlainText">-- Singapore closed down 0.41 percent, or 12.63 points, at 3,030.86.</p>
<p class="MsoPlainText">DBS Bank rose 0.70 percent to Sg$14.46, while SingTel fell 0.34 percent to Sg$2.95.</p>
<p class="MsoPlainText">-- Kuala Lumpur closed flat, edging down 0.27 points to 1,495.35.</p>
<p class="MsoPlainText">State-owned power firm Tenaga Nasional shed 2.70 percent to 6.03 ringgit, Petronas Gas was down 2.40 percent at 11.24 while glove-maker Top Glove rose 3.30 percent to 5.05.</p>
<p class="MsoPlainText">-- Jakarta ended 0.78 percent, or 27.61 points, higher at 3,569.84.</p>
<p class="MsoPlainText">-- Manila finished 0.14 percent, or 5.65 points, lower at 3,918.70.</p>
<p class="MsoPlainText">Aboitiz Equity Ventures was down 1.0 percent at 41 pesos, Metropolitan Bank & Trust fell 1.3 percent to 62.05 and Philippine Long Distance Telephone lost 0.9 percent to 2,180.</p>
<p class="MsoPlainText">-- Wellington ended 0.64 percent, or 21.64 points, lower at 3,361.20.</p>
<p class="MsoPlainText">Telecom fell 2.7 percent to NZ$1.99, insurer Tower dived 3.8 percent to NZ$1.79 and Air New Zealand slipped 1.65 percent to NZ$1.19 while Contact Energy lost 0.50 percent to NZ$5.94.</p>
<p class="MsoPlainText">-- Bangkok rose 1.57 percent, or 15.83 points, to 1,022.89.</p>
<p class="MsoPlainText">Banpu jumped 30.00 baht to 750.00 and PTT Plc added 6.00 baht to 349.00.</p>
<p class="MsoPlainText">-- Mumbai closed 1.46 percent, or 265.39 points, higher at 18,439.48.</p>
<p class="MsoPlainText"><Center /><b><i>Copyright AFP (Agence France-Presse), 2011</b></i></center></p>
]]></content:encoded>
      <category>Markets</category>
      <guid>https://www.brecorder.com/news/6996</guid>
      <pubDate>Mon, 14 Mar 2011 11:57:45 +0500</pubDate>
      <author>none@none.com (Parvez Jabri)</author>
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