Latest News

Developments after major Japan earthquake

(Agencies)
Updated: 2011-03-12 23:20

TOKYO?- Following are main developments after an 8.9 magnitude earthquake that struck northeast Japan on Friday and set off a tsunami.

* More than 1,700 people likely dead or missing from the quake and tsunami, Kyodo news agency says.

* Radiation leaks from a damaged nuclear plant after an explosion blows the roof off, raising fears of a meltdown at the facility north of Tokyo.

* Chief Cabiet Secretary Yukio Edano says there was an explosion and radiation leak at Tokyo Electric Power Co's (TEPCO) Fukushima nuclear power plant on Saturday, but not inside the reactor container. He says there was no major change in the level of radiation after the explosion.

- Earlier, Japan warned of a meltdown at the nuclear reactor damaged after the quake, but said the risk of radiation contamination was small.

* Jiji news agency says three workers suffer radiation exposure near Fukushima nuclear plant.

- Authorities moved tens of thousands of residents from area near two nuclear plants in Fukushima prefecture, some 240 km (150 miles) north of Tokyo, as they try to reduce pressure in the reactors.

- The government says it has expanded the evacuation area around the Fukushima Daiichi nuclear power plant to a 20 km radius from 10 km.

* TEPCO plans to fill the leaking reactor with sea water to cool it down and reduce pressure in the unit, Edano says.

- Quake triggers tsunami up to 10 metres (30 feet), with waves sweeping away homes, crops, vehicles and submerging farmland.

- Bank of Japan will hold policy meeting on Monday and announce decision on same day. The central bank vows to do utmost to ensure financial market stability.

- Toyota Motor Co says it will suspend operations at all 12 factories on Monday.

- Total insured loss could be up to $15 billion, equity analysts covering the industry say.

- Disaster sends oil, metals, and grain prices sliding on fears over its impact on demand, deepening their biggest decline in months; yen rises broadly on risk aversion by Japanese investors and expectations of repatriations by Japan's insurance companies; oil prices slides more than $3 a barrel.

- Tokyo Stock Exchange plans to open for trading as normal on Monday.

?