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Mar 14, 2011

MarketWatch: Japan Nikkei - 13% .. and more to read and watch

Before the BellCountdown to the open:
Pre-Market Indications | Analyst Ratings | Oil News | EarningsWatch
Index Futures: S&P 500 /quotes/comstock/21m!f:sp\m11 1,261.00 -29.50 -2.29% DOW /quotes/comstock/21b!f:dj\h11 11,738 -250.00 -2.09% NASDAQ /quotes/comstock/21m!f:nd\m11 2,244 -45.25 -1.98%
Japan's Nikkei -13%
Nuclear fears sparking regional market crash
A child is checked for signs of radiation after evacuation from the area near a nuclear plant in Koriyama, Japan.

Quake worries remain
U.S. stocks drop as worries escalate about the financial impact of Japan’s devastating earthquake, tsunami, and possible nuclear meltdown.
After Hours: H-P shares up, TI down
Stocks for Tuesday | After the Bell

H-P keeps eyes on cloud, webOS
H-P Chief Executive Leo Apotheker (left) unveils long view that stresses webOS and cloud computing.
Hewlett-Packard announces 50% dividend hike
It's showtime for H-P's chief
Long lines, sellouts: Analysts say iPad 2's a hit
Material costs of iPad 2 match first iPad
Japanese equities go into free-fall as concerns rise over a growing nuclear crisis. Nikkei Average plunges more than 13% in afternoon session.
Hong Kong stocks plunge with Tokyo
Asia's smaller markets slammed by Japan
Lenovo shares drop on supply-chain shortage
Australia sees strong corporate-bond issuance

Japan warns on radiation
Another explosion hits the stricken Fukushima Daiichi nuclear power plant, with Japanese Prime Minister Naoto Kan urging calm in a national address as ‘substantial amounts of radiation’ leak into the area around the facility.
Global nuclear-power renaissance is in peril
New black eye chills atomic power  (First Take)
Tough road for uranium miners (Market Junkie)
Doctor explains impact of nuclear radiation
TI expects sales loss from quake damage

Japan quake may spur China steel
Production of key Japanese steel exports was located in the earthquake zone. (Caixin Online)
Cost to insure Japan's Tepco debt rises sixfold
Australia central bank: Song remains the same

Berkshire's chemical deal
Warren Buffett bids $135 a share for Lubrizol.
Investor sentiment on Berkshire Hathaway
Nasdaq may make hostile bid for NYSE
Currency shifts and emerging-market M&A

By Michael Kitchen 
LOS ANGELES (MarketWatch) -- Japanese Prime Minister Naoto Kan said in a national address Tuesday that there was a high risk of a further radioactive leak from the Fukushima Daiichi nuclear plant, where a blast occurred earlier at one reactor and another had caught fire. Kan said that everyone within 20 kilometers of the plant should remain calm and evacuate, while those within 30 kilometers should stay indoors. He said efforts to control the situation were ongoing.

MarketWatch | Market Pulse: Japanese shares push lower in late morning

By Michael Kitchen 
LOS ANGELES (MarketWatch) -- Japanese stocks kept their downward momentum in Tuesday's morning trade as fears grew over a radiation leak from a quake-damaged plant north of Tokyo. The Nikkei Stock Average /quotes/comstock/64e!i:ni225 (JP:NI225 9,011, -609.74, -6.34%) plunged 6.6% to 8,982.21, extending Monday's 6.2% fall, while the broader Topix fell 7.8% to 781.08. More than an hour after the market open, shares of Tokyo Electric Power Co. /quotes/comstock/64e!9501 (JP:9501 1,621, 0.00, 0.00%) /quotes/comstock/11i!tkecf (TKECF 19.00, -1.20, -5.94%) were ask-only, after another explosion was reported at its Fukushima Daiichi plant, raising concerns of a serious radiation leak. Stock in conglomerate Hitachi Ltd. /quotes/comstock/64e!6501 (JP:6501 379.00, -35.00, -8.45%) /quotes/comstock/13*!hit/quotes/nls/hit (HIT 49.95, -9.17, -15.51%) , which built some nuclear-power facilities hit by the quake, plunged 8.5%. Many major names fell by double-digit percentages, with NEC Corp. /quotes/comstock/64e!6701 (JP:6701 176.00, -19.00, -9.74%) /quotes/comstock/11i!nipnf (NIPNF 2.40, -0.10, -4.00%) down 10%, Renesas Electronics Corp. /quotes/comstock/64e!6723 (JP:6723 590.00, -100.00, -14.49%) /quotes/comstock/11i!rnec.y (RNECY 5.64, +0.27, +5.03%) dropping 14.5%, and Fujitsu Ltd. /quotes/comstock/64e!6702 (JP:6702 409.00, -63.00, -13.35%) /quotes/comstock/11i!fjtsf (FJTSF 6.25, 0.00, 0.00%) losing 13.1%.

MarketWatch: Japan Stocks Continue Plunge

By Brad Frischkorn 

TOKYO—Shares in Japan were sharply lower again Tuesday, with the benchmark Nikkei 225 index down 6.1% in early trade as another explosion hit a key nuclear power plant, heightening concerns about the risk to the facility and broader radiation leaks.
Trading volume was slower so far after Monday's record total, suggesting a more orderly market after the index slumped 6.2% the previous day.
But with all eyes on the nuclear emergency at the key facility in the country's northeast, further fund selling was expected. There is also little clarity on the damage bill for the economy and the government from Friday's 9.0 magnitude earthquake and tsunami, and some major automotive and technology companies are still in a production shutdown. Power outages remain a concern.
The index was recently at 9039.11, its lowest level since early September, having briefly slipped below 9000.
"There is no sense of calmness to examine the health of the Japanese economy as a whole," said Masayoshi Yano, senior market analyst at Meiwa Securities. Analysts put support for the index around 8800.
Shares of Tokyo Electric Power Co., or Tepco, and Tohoku Electric Power remain under the most scrutiny, as the pair operate several nuclear reactors in quake-affected regions. Both stocks remained at limit-down levels in early trading, after going limit-down on Monday. Tepco's limit-down is a 400 yen ($4.90) decline from the previous close, while Tohuku's limit-down is a 300 yen move.
The Nuclear and Industrial Safety Agency said another explosion was heard at the troubled Fukushima Daiichi No. 2 reactor before the market open. Authorities said the explosion inside part of the reactor appears to have caused damage and some staff have been evacuated from the facility.
"If there is a full [reactor] meltdown, Tepco shares may even touch their record low [of 640 yen]," said Monex market analyst Toshiyuki Kanayama. "It's impossible to imagine what's going to happen.
All 33 Topix subindexes were lower with shares of Toshiba, which also makes nuclear power plants, ask-only at an indicated value of 355 yen.
Write to Brad Frischkorn at

Daily Treasury Yiel Curve Rate

Daily Treasury Yield Curve Rates

Date1 mo3 mo6 mo1 yr2 yr3 yr5 yr7 yr10 yr20 yr30 yr
Monday Mar 14, 2011, 4:32 PM

* 30-year Treasury constant maturity series was discontinued on February 18, 2002 and reintroduced on February 9, 2006. From February 18, 2002 to February 8, 2006, Treasury published alternatives to a 30-year rate. See Long-Term Average Rate for more information.
Treasury discontinued the 20-year constant maturity series at the end of calendar year 1986 and reinstated that series on October 1, 1993. As a result, there are no 20-year rates available for the time period January 1, 1987 through September 30, 1993.
Treasury Yield Curve Rates. These rates are commonly referred to as "Constant Maturity Treasury" rates, or CMTs. Yields are interpolated by the Treasury from the daily yield curve. This curve, which relates the yield on a security to its time to maturity is based on the closing market bid yields on actively traded Treasury securities in the over-the-counter market. These market yields are calculated from composites of quotations obtained by the Federal Reserve Bank of New York. The yield values are read from the yield curve at fixed maturities, currently 1, 3 and 6 months and 1, 2, 3, 5, 7, 10, 20, and 30 years. This method provides a yield for a 10 year maturity, for example, even if no outstanding security has exactly 10 years remaining to maturity.
Treasury Yield Curve Methodology. The Treasury yield curve is estimated daily using a cubic spline model. Inputs to the model are primarily bid-side yields for on-the-run Treasury securities. See our Treasury Yield Curve Methodology page for details.
Negative Yields and Nominal Constant Maturity Treasury Series Rates (CMTs). Current financial market conditions, in conjunction with extraordinary low levels of interest rates, have resulted in negative yields for some Treasury securities trading in the secondary market. Negative yields for Treasury securities most often reflect highly technical factors in Treasury markets related to the cash and repurchase agreement markets, and are at times unrelated to the time value of money.
As such, Treasury will restrict the use of negative input yields for securities used in deriving interest rates for the Treasury nominal Constant Maturity Treasury series (CMTs). Any CMT input points with negative yields will be reset to zero percent prior to use as inputs in the CMT derivation. This decision is consistent with Treasury not accepting negative yields in Treasury nominal security auctions.
In addition, given that CMTs are used in many statutorily and regulatory determined loan and credit programs as well as for setting interest rates on non-marketable government securities, establishing a floor of zero more accurately reflects borrowing costs related to various programs.
For more information regarding these statistics contact the Office of Debt Management by email at

The Economist: New or Updated Articles - March 14th, 2011

Banyan: Stoicism amid the earthquake debris
Newsbook: Sarkozy's Libyan surprise
Banyan on China's NPC: Ask no evil, speak no evil
Newsbook on Libya: Can the colonel be stopped?
Free exchange: Ahead of the Fed
Quiz: Well red
From the archive: The Great Kanto earthquake
Online debate: For 57% of voters, disruptive innovation is superior

Financial And Forex Info | New York Market Close Report

New York Market Close Mar 14/11 06:20 PM EDT

NYT: Afternoon Business News: U.S. Nuclear Industry Faces New Uncertainty


U.S. Nuclear Industry Faces New Uncertainty

A fragile bipartisan consensus on nuclear power's promise for the United States may have dissolved.

Shares Fall Amid Concerns About Japan

Investors tried to assess the economic fallout from the earthquake, the tsunami and the nuclear-power disaster in Japan.

Nuclear Plants in Europe Are Delayed

Switzerland and Germany plan safety investigations in the wake of accidents at Japanese nuclear operations.

E.U.'s Latest Rescue Package Seen Falling Short-Again

Analysts and investors greeted the package worked out last weekend with cautious approval. But there appears to be a catch.

Financial And Forex Info | The australian Business Briefing: Japan headwinds to ripple through Asia

Wall St slips as Japan risks weigh
Aus Bus Pix Wall St 110415 UPDATED Donna Kardos Yesalavich US fell today as Japan's earthquake and tsunami left investors struggling to assess the financial fallout.
Japan headwinds to ripple through Asia
Japan Patrick Barta and Brian Spegele DISRUPTIONS to Japan's economy in the aftermath of last week's earthquake and tsunami are expected to ripple across Asia in the coming weeks.
Carlyle to bet $5bn on Asian shipping
container ships Robert Lea ONE of the world's largest private equity groups is betting heavily on the growing Asian maritime trade and demand for shipping in the region.
GGG bids for WA gold partner Auzex
gold miner Rhiannon Hoyle GOLD explorer GGG Resources says it intends to make an off-market offer for joint-venture partner Auzex Resources.
Gas, coal exports tipped to rise
LNG platform Sarah-Jane Tasker DEMAND for Australia's key exports to Japan -- coal, iron ore and gas -- is set to rise in the wake of the massive earthquake destruction.
Watchdog clears Oakajee project
PN 75 IMG Generic Business Oakajee Amanda O'Brien WESTERN Australia's massive Oakajee port and rail project jumped a major hurdle yesterday.
Exiled chairman refuses to draw curtain
Ian Trahar Andrew Burrell PERTH businessman Ian Trahar has refused to rule out pursuing a $47 million takeover bid for Australia's biggest Kresta Holdings.
Metcash will dominate market
Franklins Andrew Main METCASH would effectively dominate the NSW market if it bought Franklins' operations, a barrister for for the ACCC said yesterday.
Financial Markets
Wall St slips as Japan risks weigh
Aus Bus Pix Wall St 110415 UPDATED Donna Kardos Yesalavich US fell today as Japan's earthquake and tsunami left investors struggling to assess the financial fallout.
Oil flat as traders eye Japan, Libya
Gold price rises on Japan disaster
Financial Markets Coverage
Mining & Energy
Oil flat as traders eye Japan, Libya
oil Jerry A. DiColo OIL futures ended nearly flat as investors weighed up closure of Japanese oil refineries and developments in Libya and Bahrain.
Gold price rises on Japan disaster
GGG bids for WA gold partner Auzex
More Mining & Energy Coverage

Financial And Forex Info: The Australian Capital Circle: Reactors edge towards breaking point

Capital Circle Newsletter
Reactors edge towards breaking point
The sheer scale of the tragedy in Japan is hard to comprehend - and will be even harder recover from.

The PM's day, per the press office: Prime Minister Julia Gillard is travelling back from Sydney to Canberra this morning. She has a day of meetings ahead of her, with no media appearances scheduled at this stage.
Tony Abbott is in Perth today and will return to Sydney this evening. He will be interviewed by Leon Byner on Adelaide's 5AA radio station at 9am Adelaide time.
DFAT's Japan morning update: The number of calls received in Canberra - 7653. Australians in Japan confirmed safe - 2610, including 128 in affected areas. The number of Australians registered in Japan - 3342. The number of Australians registered in affected areas - 306. There are no reports of Australian casualties.
***Sign up to Capital Circle -- news from the beltway to your inbox***
The Australian's frontpage headline declares that "Fuel rods exposed at nuke plant''. The Age declares "Nuclear crisis may last months" while the Courier Mail declares "Hope in Hell". All three carry the striking picture of a Japanese Self Defence Force soldier carrying a four-month-old baby girl. The Daily Telegraph describes an "Island of lost souls'', sharing a heart-wrenching front page picture of a grieving girl described by the Advertiser as "Broken Hearted''.
Morning update: The fuel rods at a third nuclear reactor in Japan have been exposed to air, allowing them to heat up

ABC News: Australia Business news : Japan disaster weighs on markets


Japan disaster weighs on markets
US stocks fell as the effects of Japan's earthquake and tsunami sparked further caution.

Builder's demise a 'travesty'
Subcontractors in north Queensland say the collapse of Glenwood Homes will be disastrous for the region's struggling building industry.

Machete robbery of Sydney bus driver
A Sydney bus driver has had a machete held to his throat in the latest in a series of attacks targeting buses around Mount Druitt in the city's west.

More Business Stories

Financial And Forex Info | Reuters Daily Investor Update: Markets hurt by Japan, but selling could wane


Markets hurt by Japan, but selling could wane
NEW YORK (Reuters) - U.S. stocks fell in the aftermath of Japan's devastating earthquake on Monday, but other than specific industries such as nuclear power, the broad impact on equities was expected to be short-lived. | Full Article

Japan economy shudders after shocks, BOJ pumps cash
March 14, 2011 03:48 PM ET
TOKYO (Reuters) - Japan's central bank on Monday rushed to bolster markets in the wake of the country's worst disaster since World War Two and although the authorities said it was too early to put a figure on the damage, critics said a stronger initial response had been needed. | Full Article
Buffett bets on emerging markets with Lubrizol buy
March 14, 2011 01:54 PM ET
NEW YORK (Reuters) - Billionaire Warren Buffett's Berkshire Hathaway Inc struck a deal to buy lubricant maker Lubrizol Corp for $9 billion in a bet on industrial growth in emerging economies. | Full Article
Quake selloff wipes $287 billion off Tokyo stock market
March 14, 2011 10:34 AM ET
TOKYO (Reuters) - A massive selloff on the Tokyo Stock Exchange wiped out some 23.5 trillion yen ($287 billion) from the market's value on Monday with investors dumping stocks as the country recoiled from a devastating earthquake and struggled to avert nuclear disaster. | Full Article
Renault says sorry to execs over false spy claims
March 14, 2011 04:26 PM ET
PARIS (Reuters) - French carmaker Renault made a public apology to three executives accused of industrial espionage after the Paris prosecutor said the trio had no case to answer. | Full Article