Tuesday, April 12, 2011

Fresh nuclear fears hit Asian shares

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Asian shares slid on Tuesday as Japanese stocks were hit by renewed concerns over the country's nuclear crisis while a report from Goldman Sachs sent commodity prices lower, knocking the region's resource stocks.

The FTSE Asia Pacific index fell 1.4 per cent to 260.35, the most in a week, after Japan raised its assessment of the Fukushima nuclear accident to the most serious level on a seven-step international scale, equivalent to the 1986 Chernobyl disaster.


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Tokyo expanded the evacuation zone in the north-eastern part of the country after powerful aftershocks sparked renewed anxiety one month since the March 11 earthquake and tsunami.

The Nikkei 225 average ended 1.7 per cent lower at 9,555.26 and Tokyo Electric Power, which operates the crippled Fukushima plant, tumbled 10 per cent to Y450.

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