World economy talk

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seems like they've open fired on civilians in Saudi Arabia already...

rubber bullets lang

Brent $115.35 -- not higher than yesterday

WTI $102.82

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Japan earthquake

dollar rallies against yen



--

report of refineries on fire in Japan

[tidus1203]

Wala everyone wants CASH. Market players focus attention to Europe again as well as China and away from the Middle East. It's today's FOCUS... What's tomorrows?

I guess JAPAN is the focus of TOMORROW este TODAY na pala!

So far JPY has stabilized pero bumagsak nga yung kakalabas ng news...

[uls]

sell stocks of insurance companies

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Munich Re

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I guess JAPAN is the focus of TOMORROW este TODAY na pala!

So far JPY has stabilized pero bumagsak nga yung kakalabas ng news...

yen regained strength on expectations of yen repatriation from overseas Japan companies, insurance companies buying yen

[Monseratto]

Economic cost...

http://www.businessweek.com/news/201...factories.html

March 11 (Bloomberg) -- Companies including Sony Corp. and Toyota Motor Corp. halted output at plants after an 8.9- magnitude earthquake struck off the coast of Japan, damaging production facilities and causing power outages.

Sony halted and evacuated six factories in northeastern Japan, said Yasuhiro Okada, a spokesman at the Tokyo-based company. He said the company was assessing the impact of power outages and damage to its facilities in the region, which make Blu-ray discs, magnetic heads and batteries.

The quake, Japan’s strongest in at least a century, struck at 2:46 p.m. local time 130 kilometers (81 miles) off the coast of Sendai, north of Tokyo, the U.S. Geological Survey said. The tremor caused a tsunami as high as 10 meters (33 feet) that inundated northern towns and caused buildings to shake violently as far away as Tokyo. At least 26 people were killed by the wave and many were missing, state broadcaster NHK Television said.

Toyota, the world’s largest automaker, and its affiliates closed three factories, said Shiori Hashimoto, a spokeswoman in Tokyo. The Toyota City-based carmaker began production at a new plant in Miyagi this year that makes Yaris compact cars and has capacity to make 120,000 vehicles a year.

Honda, Nissan

Honda Motor Co. closed two factories, said Hajime Kaneko, a spokesman for the Tokyo-based carmaker. A 42-year-old male employee was crushed to death by a collapsing wall at a research and development center in Tochigi prefecture and about 30 other employees were injured, Kaneko said.

Nissan Motor Co. closed four factories including car plants in Tochigi and Kanagawa and engine factories in Kanagawa and Fukushima, Mitsuru Yonekawa, a spokesman for the Yokohama-based company, said by phone. Two workers suffered minor injuries, he said.

A refinery on fire outside Tokyo exploded, while nuclear power stations were shut down. Narita airport, Tokyo’s main international gateway, was closed and bullet-train services suspended. More than 4 million homes were without power, Tokyo Electric Power Co. said.

Toyota shares traded in Frankfurt fell as much as 3.8 percent, the biggest intraday decline since Jan. 21, to 30.45 euros as of 10:15 a.m. local time. Honda dropped as much as 4.5 percent and Sony slid as much as 2.5 percent in the German city.

Fuji Heavy

Fuji Heavy Industries Ltd., the maker of Subaru cars, closed five factories, said Kenta Matsumoto, a spokesman for the Tokyo-based company.

Toyota Boshoku Corp., a Toyota Motor supplier, reported damage at a plant in Miyagi. Roads were also cracked near its factory, said Misako Nagata, a spokeswoman for the parts maker. Denso Corp., Japan’s biggest auto-parts maker, said a plant under construction south of Miyagi was damaged. All of its workers were safe, said Goro Kanemasu, a spokesman for the company.

Sapporo Holdings Ltd., Japan’s fourth-biggest beermaker, suspended operations at factories in Sendai and Chiba due to power outages and damage, Katsuhito Ogawa, a spokesman for the Tokyo-based company, said by e-mail.

Oriental Land Co., the operator of Tokyo Disney Resort, will close the amusement park tomorrow to inspect facilities, the company said in a statement today. It hasn’t yet decided whether to open the resort on March 13. No injuries were reported at the resort, the company said.

Panasonic, Canon

Panasonic Corp. said several employees at its three factories in Miyagi and Fukushima prefectures sustained minor injuries. The Osaka-based company is still assessing the damage to facilities, Yuichi Takatoku, a Tokyo-based spokesman for the company, said by phone.

Canon Inc., the world’s biggest camera maker, didn’t suffer damage to plants that would halt output, said Hirotomo Fujimori, a spokesman in Tokyo, where the company is based.

The quake was followed by a 7.1-magnitude aftershock at 4:25 p.m., the U.S. Geological Service said.

Boats smashed into walls as the tsunami struck, inundating buildings with black water full of debris across stretches of coast north of Tokyo, NHK images showed. One large building was lifted off its foundations and dragged into the ocean.

Farmland was flooded with burning debris in some areas as the tidal surge swept inland. Large boats were left stranded after the water surged back to sea.

Airport Flooded

The airport in Sendai, a city of 1 million people 310 kilometers north of Tokyo, was flooded by the tsunami, according to NHK footage.

Japan Airlines Corp. diverted 22 flights to other airports, the company said in a faxed statement. In total, 27 flights have been impacted by the quake, affecting 5,290 people, the statement said.

East Japan Railway Co., the nation’s largest train operator, suspended operations of trains in the Tokyo area along with its bullet-train operations, according to its website. Tokyo Metro Co., the capital’s largest subway operator, said on its website it stopped trains, forcing commuters to line up for taxis.

Prime Minister Naoto Kan ordered the army to aid rescue efforts after the quake, which struck 373 kilometers northeast of Tokyo.

[uls]

yen strengthened coz a lot of yen will be needed to rebuild

Japan companies overseas will be sending money to Japan

Re-insurers face billions of dollars in claims

[safeorigin]

gulo sa Yemen kahapon

[Monseratto]

The earthquake hit Toyota pretty bad...

http://www.financialpost.com/pledges...436/story.html


An aerial shot shows vehicles ready for shipping being carried by a tsunami tidal wave at Hitachinaka city in Ibaraki prefecture on March 11, 2011. A massive 8.8-magnitude earthquake shook Japan, unleashing a powerful tsunami that sent ships crashing into the shore and carried cars through the streets of coastal towns.

AUTO EXPORTS THREATENED

The earthquake also threatened to delay U.S.-bound exports of Japanese vehicles and parts, straining the supply base of the still-recovering auto industry.

All of Japan’s major ports were closed after the 8.9 magnitude earthquake and related 10-meter (33 feet) high tsunami struck near the coastal city of Sendai.

"It’s a very bad situation," said Dennis Virag, president of the Automotive Consulting Group. "Japan has excellent ports, but they’re going to be the focus of rescue efforts. I don’t know how much (non-relief shipping) is going to be going out for while," he said.

North American auto production could also be slowed if parts are delayed, Virag said.

Auto manufacturing represented about 17 percent of Japan’s industrial output in 2008.

Toyota Motor Corp said it had stopped production at two assembly plants and two parts factories in Japan. The smallest Toyota sold in the United States, the Yaris, is built at one of those plants near Sendai.

U.S. demand for smaller, more fuel-efficient cars is expected to rise, along with gasoline prices, in late spring and summer.

Toyota, the world’s largest automaker, said earlier in March that low inventory of its Lexus luxury brand was hurting North American sales. All of the Lexus models sold in North America, with the exception of the RX sport utility vehicle, are made in Japan.

Baird analyst David Leiker told clients in a note that infrastructure damage from the quake could affect shipments.

"The situation requires watching," he wrote, adding that interrupted shipments from Japan could have a ripple effect around the world.

Toyota’s U.S.-based spokeswoman Mira Sleilati said the Japanese plant that makes Toyota’s Prius, which dominates sales of hybrid cars, was still operating.

Toyota’s Tohoku parts factory was closed, and production was suspended at a plant run jointly by Toyota and Panasonic Corp that produces batteries for hybrid vehicles.

Toyota’s Hokkaido plant, which makes transmissions and aluminum wheels, was also closed.

[tidus1203]

Well bad for imports (from a US point of view) and good for transplants and domestics...

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in Bahrain, sectarian tension escalates

---

with Japan's nuclear power generation disrupted, what will Japan use as an alternative to generate power? oil

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good morning

Nikkei 225

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volatile USD/JPY



many Japan banks and brokers not fully operational

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ICE Brent $111.45 down $2.39, Nymex WTI $99.58 down $1.58

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Saudi Arabia is majority Sunni

Bahrain is majority Shia but ruled by minority Sunni

Saudi Arabian forces prepare to enter Bahrain after day of clashes
http://www.guardian.co.uk/world/2011...hrain-protests

Saudi forces are preparing to intervene in neighbouring Bahrain, after a day of clashes between police and protesters who mounted the most serious challenge to the island's royal family since demonstrations began a month ago.

The Crown Prince of Bahrain is expected to formally invite security forces from Saudi Arabia into his country today, as part of a request for support from other members of the six-member Gulf Co-operation Council.

it's a sectarian thing

[tidus1203]

Nikkei 225 down 16%...

A lot of stocks are ASK ONLY. Meaning walang BID's to complete trades... Talk about selling pressure...

Toshiba stocks is down 16.5%...

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Toyota Motor Suspends Production At All Domestic Plants Mon-Wed
http://e.nikkei.com/e/fr/tnks/Nni20110314D14JF736.htm

TOKYO (Dow Jones)--Toyota Motor Corp. (7203) said Monday that it is suspending production at all domestic factories through Wednesday as the auto maker tries to adjust to the logistics dislocation wrought by Friday's massive earthquake and tsunami, as well as rolling power cuts imposed by Tokyo Electric Power Co. (9501), or Tepco.

A spokesperson for the world's biggest auto maker by sales said the suspension, which covers all Toyota group companies, will result in a production loss of 40,000 vehicles.

Sony, Toyota Plants Shut Amid Quake Damage, Power Shortages
http://www.businessweek.com/news/201...shortages.html

March 14 (Bloomberg) -- Japanese manufacturers including Sony Corp. and Toyota Motor Corp. closed plants today after the nation’s strongest earthquake damaged factories and crippled nuclear power plants, causing electricity shortages.

Sony, Japan’s biggest exporter of consumer electronics, halted operations at 10 factories and two research centers because of power outages and damages, said Mami Imada, a spokeswoman for the Tokyo-based company. Toyota, the world’s largest automaker, said it closed all 12 factories in Japan through Wednesday, and its auto-body makers’ plants are closed today. Honda Motor Co. said it would stop output at plants in four locations.

Toyota, Nissan to suspend all domestic production
http://www.asahi.com/english/TKY201103130117.html

Toyota Motor Corp. and Nissan Motor Co. said they will suspend all domestic production from Monday as parts supplies were cut off due to Friday's devastating earthquake.

Honda Motor Co. said it will stop most of its domestic production.

[uls]

WTI crude falls below $99. $98.89

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1,000 Saudi troops are now in Bahrain to protect oil and power facilities and financial center