Sat, 12 Mar 2011 14:59:00 +0100

No important damages in a explosion in a Japan quake-hit nuclear

FXstreet.com (Barcelona) - Reuters - The japanese government assures that the explosion in the Fukushima Daiichi nuclear power plant didn’t damage the reactor container, only the structure outside it.

Chief Cabinet Secretary Yukio Edano said there had been no major change in the level of radiation after the explosion because it did not occur inside the reactor container.
"The nuclear reaction facility is surrounded by a steel storage machine, which is then surrounded by a concrete building. This concrete building collapsed. We learnt that the storage machine inside did not explode," he told a news conference.

Edano initially said an evacuation radius of 10 km (6 miles) from the stricken 40-year-old Daiichi 1 reactor plant in Fukushima prefecture was adequate, but then an hour later the boundary was extended to 20 km (13 miles). TV footage showed vapor rising from the plant, 240 km (150 miles) north of Tokyo.

Markets end week with eyes on Japan

The Yen finished the week with gains across the board, rising sharply on Friday after an earthquake hit northern Japan. The catastrophic event triggered a decline in Asian and European markets but in Wall Street stocks finished Friday slightly in positive, but in negative for the week.

The earthquake was followed by a devastating tsunami. The Yen reacted to the downside initially but afterwards jumped in the market, erasing weekly losses. The damage and consequences of the catastrophic event are not yet know and the situation in affected areas is still dramatic. A nuclear emergency has been declared and several big aftershocks shook Japan.

Market participants will focus over Japan during the weekend. The Bank of Japan announced that next Monetary Policy Meeting, to be held on Monday will finish on the same day, and not on Tuesday as it was previously schedule. Once open on Monday, markets will have a better analysis of earthquake’s impact.