Japan in nuclear disaster fear after reactor explodes

Telegraph UK confirms an AFP agency report that an explosion blasting white smoke into the air was heard today at a power plant placed under an ’emergency’ situation by the Japanese government in the wake of the country’s major earthquake. Many workers have been injured and the government has warned that radiation leaks will occur. The reactor is at the Daiichi works which is around 150 miles away from Tokyo.

The explosion is fuelling fears of a  major nuclear disaster for the country, especially as one other reactor has also been compromised by the earthquake.

Capital Markets Implications

According to Telegraph Finance, due to worries about the effect on the country’s economy in the aftermath of the earthquake, there has been an acute sell-off  in stock markets over Asia.  Japan‘s index ended today ended at 1.7pc lower at 10254.40, with South Korea’s Topix and Hong Kong’s Hang Seng showing rapid falls as well. Europe’s bourses were next and Germany’s Dax and France’s CAC 40 followed suit.

[Asia Contributor]

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