Japanese financial markets crash

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Japanese financial markets crash

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Japanese stock markets fell on Monday, following the countrys most devastating natural disaster.

15 March,2011 10:21 am

After the devastation caused by the quake and tsunami, the Bank of Japan injected Y150 billion into the banking system to stabilise financial markets, its largest ever move into the financial market. After the downwards trend in financial markets, the Nikkei Index faced a decline of 20 percent – the most since June 1970. Topix Index suffered its worst two day decline, up to 25 percent, since 1987 as concern grew about the safety of nuclear plants of the country.Meanwhile, major Korean manufacturers witnessed growth in their shares prices in a hope of increase in sales after the closure of Japanese companies.