Japan: Nikkei witnesses biggest loss since last 24 years

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Japanese economy
Tokyo, Mar 15: Oneindia earlier reported that Earthquake and Tsunami hit Japan may soon experience a major economic bash in the form of recession. Now, after the news of rising radiation levels towards the capital Tokyo, the fear has been increased.

Records show that the country's economy is facing the worst time since last 24 years. Sources reported that Japanese stocks plunged 12 percent on Tuesday, Mar 15.

Equity futures fell and the yen rallied as risky assets were dumped. The yen steadied soon after, raising suspicion that authorities had intervened though finance ministry declined to comment on intervention.

Experts claimed that the index experienced the biggest one-day drop since the stock market crash of Oct 1987.

A supervisor at Okasan Securities in Tokyo, Hideyuki Ishiguro claimed, "All focus is on the nuclear crisis. In the situation where the crisis appears to be worsening, foreign investors, domestic fund operators are pulling out from Japanese shares."

After multiple explosion in the nuclear reactor in Fukushima, Japanese scientists have revealed that the radioactive levels have increased into worrying levels in the periphery.

Sources in French embassy in Tokyo claimed that a low-level radioactive wind is spreading across Tokyo and would show its impact in a few hours from now. The French Embassy in Tokyo warned in an advisory that a low level of radioactive wind could reach the capital in about 10 hours.

OneIndia News

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