Friday, March 11, 2011

japan earthquake and tsunami affect saudi arabia

japan earthquake and tsunami affect saudi arabia ; Indian equity benchmarks saw a drop of over 0.8% on Friday after an earthquake in Japan weakened sentiment further already affected by tensions in the Middle East and North Africa. The market also shrugged off better-than-expected industrial output data.

An earthquake measuring 8.9 on the Richter Scale struck off the northeast coast of Japan on Friday, shaking buildings in the capital Tokyo. The quake triggered a 10-metre tsunami that swept away everything in its path, including houses, cars and farm buildings on fire.

Sensex ends lower on Japan quake, economic woes
The tremors hit global markets badly which were already under pressure on economic concerns. Indian markets had opened in the red reacting to weekly jobless claims in the US which increased to 397000. Trade deficit also worsened more than expected to $46.3 billion. Read More...

METALS-Copper falls after Japan quake, China data
Copper fell on Friday after a major earthquake hit Japan, unsettling global financial markets, and as Chinese inflation data fuelled concerns over demand from the top consumer of the metal. Three-month copper on the London Metal Exchange was at $9,054.75 tonne by 1143 GMT, down from a $9,191 close on Thursday. Read More...

Japan quake, Saudi tensions drag Sensex 154 points down

The Nikkei 225 average closed down 1.7% at 10,254.43 points after the earthquake struck. Among other Asian markets - Hang Seng, Kospi and Straits Times went down 1-1.5%. Shanghai and Taiwan were down over 0.7%. Tsunami warning has widened to include rest of Pacific coast, including Australia and South America, after massive earthquake in Japan. India Tsunami Centre says there are no local alerts yet in wake of Japanese quake. Read More...
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