Stock price index on the Tokyo Stock Exchange - one of the most influential stock markets in Asia - back slid sharply during the trading session opened earlier this week, Monday, March 14, 2011. Market participants are still shocked by the terrible damage inflicted by the earthquake and tsunami on coastal areas northeast Japan.
According to the Associated Press news agency, Japan's Nikkei 225 index went down 590.22 points, or about 5.8 percent to 9666.84 shortly after today's trading session opened. The Nikkei index has moved down on Friday afternoon last week or some time after Japan hit by earthquake and tsunami.
Major stocks on the Tokyo Stock Exchange slid hard, such as Toshiba Corp.. (16.3%), Hitachi Ltd.. (15.2%), and Sony Corp.. (7.7%). Prices of all stocks were falling.
The auto industry likely to get the greatest losses. Because the northeast region of Japan, which became the location of the disaster, was the center of the automotive industry. So, Toyota, Nissan, and Honda to close all factories in Japan. Impact, Toyota shares fell 7.2 percent, 3.8 percent of Honda, and Nissan 8.5 percent. Similarly, Mitsubishi (9%) and Isuzu (8.9%).
Bank of Japan to inject funds 7 trillion yen (U.S. $ 85.5 billion) into money markets to continue to stabilize the economy, which was badly shaken. By injecting huge funds into the banking system, the central bank still expects its financial institutions to disburse loans and fulfill its great potential demand for post-disaster funds from the public.
