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Japan pumps more cash into financial system

The Bank of Japan has pumped another five trillion yen or nearly 66 billion Australian dollars into the country's financial system.

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2 min read

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Source: AAP


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The move to soothe money markets shaken by Japan's biggest ever earthquake a devastating tsunami and a nuclear emergency takes the central bank's total funds injection to 33 trillion yen ($A435 billion) since disaster struck.

Tokyo stocks down more than 4 PERCENT

Japanese shares slumped more than four per cent in early trade as the yen hit its highest level against the dollar since World War II and workers scrambled to avoid a nuclear catastrophe.

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The benchmark Nikkei index today fell 398.83 points or 4.39 per cent to 8694.89 in the first 25 minutes of trading as jittery investors again offloaded shares amid fears about the unfolding crisis at the Fukushima No.1 nuclear plant.

The Topix index of all first section shares on the Tokyo Stock Exchange lost 4.17 per cent .. or 34.08 points to 783.55.

The fall-off on the Nikkei reverses a rebound of more than five per cent yesterday on bargain-hunting.

Shares saw the biggest two-day sell-off in 24 years at the start of the week in the wake of Friday's massive 9.0-magnitude earthquake and tsunami which has left nearly 13,000 people confirmed dead or missing.


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