- Title: JAPAN: Japanese stocks end flat as nuclear worries persist
- Date: 25th March 2011
- Summary: TOKYO, JAPAN (MARCH 24, 2011) (REUTERS) TRADERS AT WORK STOCK PRICES RUNNING ON ELECTRONIC BOARD/TOKYO STOCK EXCHANGE VARIOUS OF TRADERS AT WORK AT FOREIGN EXCHANGE
- Embargoed: 9th April 2011 13:00
- Location: Japan, Japan
- Country: Japan
- Topics: Disasters / Accidents / Natural catastrophes,Finance
- Reuters ID: LVADEO199Z3JYMKBQMLN0A4IUJZT
- Story Text: Japanese shares ended flat on Thursday (March 24) as persisting worries over a leaking nuclear plant dampened short-covering sentiment and impeded any optimism on the economy.
While the near-term market outlook is seen depending on whether Japan can safely stabilise the crippled Fukushima Daiichi plant, in the longer run, the market could fall under the weight of the damage from a massive earthquake this month and likely power shortages.
The benchmark Nikkei average fell 0.14 percent to 9,435.01 in Thursday trade, failing to track 0.7 percent gains in Asian shares and a small rise in Wall Street stocks on Wednesday (March 23).
Earlier in the week, the Nikkei briefly rose above 9,559.62, a 50 percent retracement of its fall from a February 17 peak to a two-year intraday low hit last week, but many market players saw little reason to push Nikkei beyond that level.
Nearly two weeks after the earthquake and tsunami that battered the Fukushima nuclear complex and devastated northeast Japan, Japan is grappling with threats from radiation leaks as Tokyo's 13 million people were told not to give infants tap water.
The broader Topix index fell 0.6 percent to 855.99 with its 200-day moving average at 871.36 seen as major resistance.
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