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Shares fall as Nikkei opens in Japan

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Shares fall as Nikkei opens in Japan

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Japanese shares fell at the opening session of the stock exchange on the first day of trading after the massive earthquake.

The fall had been widely predicted, especially in the shares of companies directly impacted by the disaster. Production has been halted at many factories including Sony and Toyota as companies assess the damage. Initially the Nikkei Index plummeted by 5%.

Economists say the disaster could have a profound effect on the country’s economy which is the world’s third largest.

Reinforcing the Bank of Japan’s determination to keep markets stable, it injected 15 trillion yen (that is over 131 billion euros) into the banking system.