No #4

The Financial Daily - - ECON­OMY & CON­TIN­U­A­TION -

The bank­ing sec­tor, down 12.3 per cent since the quake, was the sec­ond weak­est per­former on Wed­nes­day, los­ing 0.6 per­cent. Mizuho Fi­nan­cial Group, also fac­ing an in­spec­tion by fi­nan­cial au­thor­i­ties af­ter it suf­fered com­puter sys­tem trou­bles, fell 2.1 per­cent to 137 yen.

Japanese shares have shed about 7 per cent since the March 11 earth­quake and tsunami, and a sub­se­quent nu­clear safety cri­sis, trig­gered the big­gest two-day rout in the mar­ket since 1987. In con­trast, the MSCI in­dex of Asian shares out­side Japan has gained 4.7 per cent.

Do­mes­tic fund man­agers warned the Nikkei faced more down­side risk around May.

"This is when firms will pub­lish their earn­ings fore­casts which will se­ri­ously sour the mar­ket's mood," said Hiroaki Osak­abe, a fund man­ager at Chiba­gin As­set Man­age­ment.

"An­a­lysts may put out re­ports be­fore­hand, but it will be very hard to fully rely on them and price in the quake damage, so the po­ten­tial de­clines could be very big."-Reuters

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.