Japan dropped their future
6 percent Monday as investors took stock of the economic situation
damage caused by the earthquake and tsunami that devastated
region of northern Iraq.
Yen also slipped against the dollar, reversing lights previous
gains in a volatile morning in which the distributors were wary about
be able to settle transactions in thin trading conditions.
Japanese automakers, electronics companies and oil refineries have been
their share prices fall by up to 12 percent after '
factories shooting on Friday, after the earthquake and tsunami,
that are feared to have killed more than 10,000 people
severely damaged infrastructure.
Analysts say the economy is likely to suffer
decrease at least in the short term, the risk modeling firm AIR
Worldwide, said last week an earthquake could result in insured
loss of nearly $ 35 billion.
"The last strong earthquake is required to use the fall
pressure on Japan over the shares in the near future "
Nomura analysts in a research note.
"Based on the decline after the Kobe earthquake, we expect the
TOPIX and the Nikkei average down, then resumed
bands around 850-900 and 9500-10000 respectively "the
said, referring to a 1995 earthquake that struck western Japan.
Japan Nikkei futures opened down about 7 percent
<0 # JNI:> over the closing session on Friday. After
paring losses, the most actively traded contract term in June
contract fell 4.8 percent in 9710.