Monday, 16 July 2007

Asian Stocks Drop, Led by Tokyo Electric on Earthquake; Paladin Advances

(Bloomberg) -- Asian stocks fell for a second day,
led by Japanese electricity producers and insurers after a
magnitude 6.8 earthquake struck northwest Japan, damaging a
nuclear reactor operated by Tokyo Electric Power Co.

Shares of companies with factories in the area, such as
Riken Corp. and Sanyo Electric Co., slipped. Toyota Motor Corp.
and Honda Motor Co., which depend on suppliers including Riken,
also dropped. Millea Holdings Inc., Japan's largest insurer by
market value, declined.


Read more at Bloomberg Stocks News

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