SHANGHAI: China's main stock index closed down 1.1% on Thursday, March 17, hit by losses in nuclear power equipment makers, on growing concerns over radiation leaks in Japan and after China suspended nuclear approvals.
The benchmark Shanghai Composite Index ended at 2,897.3 points. The index hovered above the key 125-day moving average, now at 2,853 points, after a 1.2% drop on Wednesday.
In Tokyo, Japanese stocks fell on Thursday and domestic investors said they were posed to keep selling on rising yen volatility and a nuclear power plant crisis. Foreign buyers, drawn to valuations a cheap as Lebanon's, steadied the market after an early tumble.
The benchmark Nikkei average ended 1.4 percent lower at 8,962.67, recovering from the intraday low of 8,639.56. The yen dominated the session.
The Japanese currency slid after surging past a record peak against the dollar in white-knuckle trading that could have been linked to a stock market slump after an earthquake and tsunami hit Japan on Friday, damaging a nuclear power plant in Fukushima, north of Tokyo.
The rebound in dollar/yen helped short-covering in the stock market, said Yutaka Miura, senior technical analyst at Mizuho Securities.
CONSTRUCTION []-related stocks, expected to benefit from rebuilding efforts, were among the biggest gainers. Elsewhere funds were unsure how to take positions for the longer term.
TEPCO TRADES
Tokyo Electric Power Co , the operator of the stricken nuclear plant leaking radioactive material , plunged 62% from its last traded price on Friday. It was the most actively traded share on the Tokyo Stock Exchange's first section.
Nikkei futures listed in Osaka were down 0.8 percent to 8,930 , trimming some losses after falling as far as 8,400 at the start of trade.
The broader TOPIX was down 0.8 percent to 810.80 after briefly rising to positive territory.
The Bank of Japan offered on Thursday to inject a further 5 trillion yen ($61 billion) into the banking system, trying to calm markets in the wake of the yen's spike to a record high against the dollar. - Reuters
The benchmark Shanghai Composite Index ended at 2,897.3 points. The index hovered above the key 125-day moving average, now at 2,853 points, after a 1.2% drop on Wednesday.
In Tokyo, Japanese stocks fell on Thursday and domestic investors said they were posed to keep selling on rising yen volatility and a nuclear power plant crisis. Foreign buyers, drawn to valuations a cheap as Lebanon's, steadied the market after an early tumble.
The benchmark Nikkei average ended 1.4 percent lower at 8,962.67, recovering from the intraday low of 8,639.56. The yen dominated the session.
The Japanese currency slid after surging past a record peak against the dollar in white-knuckle trading that could have been linked to a stock market slump after an earthquake and tsunami hit Japan on Friday, damaging a nuclear power plant in Fukushima, north of Tokyo.
The rebound in dollar/yen helped short-covering in the stock market, said Yutaka Miura, senior technical analyst at Mizuho Securities.
CONSTRUCTION []-related stocks, expected to benefit from rebuilding efforts, were among the biggest gainers. Elsewhere funds were unsure how to take positions for the longer term.
TEPCO TRADES
Tokyo Electric Power Co , the operator of the stricken nuclear plant leaking radioactive material , plunged 62% from its last traded price on Friday. It was the most actively traded share on the Tokyo Stock Exchange's first section.
Nikkei futures listed in Osaka were down 0.8 percent to 8,930 , trimming some losses after falling as far as 8,400 at the start of trade.
The broader TOPIX was down 0.8 percent to 810.80 after briefly rising to positive territory.
The Bank of Japan offered on Thursday to inject a further 5 trillion yen ($61 billion) into the banking system, trying to calm markets in the wake of the yen's spike to a record high against the dollar. - Reuters
No comments:
Post a Comment