14 Mar '11, 12am

Tokyo shares plunged more than 5% after opening, falling 556.06 points to 9,698.37 at open

Tokyo shares plunged more than 5% after opening, falling 556.06 points to 9,698.37 at open

People are reflected on an electronic board displaying a graph showing the movement of the Japanese Yen's exchange rate against the US dollar. Japanese shares plunged more than five per cent after opening on Monday. -- PHOTO: REUTERS TOKYO - TOKYO shares plunged shortly after opening on Monday as investors reacted to the biggest earthquake in Japan's history and the devastating tsunami that followed. Shares fell 5.42 per cent as the key index sank below 10,000 to its lowest levels since November. The Nikkei index fell 556.06 points shortly after opening to 9,698.37. 'We cannot possibly ignore the impact that this quake will have in terms of geographical span and scale - as well as the psychological impact,' Credit Suisse strategist Shun Maruyama told Dow Jones Newswires. Mr Maruyama cut his Nikkei target for end-March to 9,000 from an earlier 11,000, saying the index may f...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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