The instinctive reaction when viewing the extensive damage and frantic efforts to secure damaged nuclear reactors is to assume economic havoc will follow.
Insurance cost for quake alone pegged at $35 billion, AIR says
The insurance cost of the quake is nearly as much as the entire worldwide catastrophe loss for the global insurance industry in 2010 and could result in higher prices in the insurance market after years of declines, according to the analysis released by Boston-based AIR Worldwide. Total losses from the quake could range from $14.5 billion to $34.6 billion, according to the AIR analysis. Read More...
Japanese Stock Futures, Australian Uranium Shares Decline Following Quake
Japanese stock futures and shares of Australian uranium producers fell after Japan’s strongest earthquake on record caused large-scale destruction in the country’s northeast, including to nuclear power stations.
American depositary receipts of Hitachi Ltd., a Japanese maker of nuclear-power plants, sank 2.8 percent from the last closing share price in Tokyo after some reactors were damaged by the quake. ADRs of Toyota Motor Corp., Honda Motor Co. and Nissan Motor Co. retreated at least 2.4 percent after Japan’s three-largest carmakers said thousands of new vehicles were damaged. Those of Tokio Marine Holdings Inc., Japan’s largest property and casualty insurer by market value, plunged 8.9 percent. Energy Resources of Australia Ltd., a uranium producer, plunged 8.5 percent. Read More...
Analysts foresee minimal impact on SET
Thai stocks are expected to see little impact from Friday's devastating earthquake and tsunami in Japan, according to local analysts. While a full damage assessment remains weeks away, casualties are expected to rise into the thousands, with property damage reaching tens of billions of dollars. The SET index on Friday fell 14 points or 1.19% to close at 1,007.06, in trade worth 28.55 billion baht.
Read More...
Treasury Investors Focus on Fed, BOJ
Treasury investors will focus on monetary-policy meetings at the Bank of Japan and the Federal Reserve as they assess the impact on markets and the global economy of Japan's earthquake and the resulting threats to nuclear plants. The Bank of Japan, which met soon after the quake hit and said it is standing by to supply adequate liquidity to the money markets, meets first, on Monday. The government has said the bank will inject huge amounts of funds into the market. Read More... For the latest updates PRESS CTR + D or visit Stock Market news Today
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