Nikkei:8,962.67 (–131.05) Hang Seng:22,284.43 (–416.45) Shanghai Comp:2,897.30 (–33.51)
VOLATILITY DOGGED Asia’s markets yesterday with Tokyo stocks paring an earlier 5 per cent tumble as the yen eased off record highs and the nuclear power company at the centre of the Fukushima crisis traded for the first time during trading hours this week.
Tokyo Electric Power, Asia’s biggest power generator, fell 13 per cent to a 29-year low of ¥798.
The yen’s overnight surge to new highs hit Japan’s big exporters. Toyota car makers that gets 30 per cent of its revenues in North America fell 2.7 per cent to ¥3,270 but pared earlier losses of 5.7 per cent as the currency eased back.
Insurers remained weaker, led lower by Tokio Marine Holdings Japan’s second-largest casualty insurer, which fell 3.4 per cent to ¥2,157.
Nuclear crisis woes dragged down Australia’s uranium producers, Paladin Energy plunged 9.5 per cent to A$3.35.
Santos rose 3.8 per cent to A$14.38 on hopes that problems for nuclear power could boost demand for oil and gas. – (Copyright The Financial Times Limited 2011)
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