TAKUJI OKUBO, CHIEF ECONOMIST, SOCIETE GENERAL, TOKYO
"I think that we will see the production industry to suffer a loss of a day of output in March at the most and with the South almost intact, I think, even for manufacturers, the impact will be limited, that they are able to shift production to regions of the South."
"I don't think that is assigned to all annual growth rates." In 1995, after a quarter-on-quarter in quake Kobe growth amounted to 0.8 per cent, so annualization 3.6%, which is in fact strong enough. I think that we are probably talking here death reaching hundreds rather than thousands, as in 1995. »
VINCENT TSUI, AN ECONOMIST AT STANDARD CHARTERED BANK IN HONG KONG
"It is still too early to assess the damages that we still see replicas." We see a strong correction of the yen and the Bank of Japan may maintain his dovish political position at a meeting next week. In an era where the rise of world oil price hit the prospects for global economic recovery is highly dependent on the Japan, this development will impact on them to maintain a dovish stance on policy. »
TIM CONDON, CHIEF ECONOMIST FOR ASIA AT ING IN SINGAPORE
"The wisdom of crowds show that markets are very evil, but I was waiting for a clearer picture assess how it is." Some draw a parallel with the RBNZ [Reserve Bank of New Zealand] here and are expecting the Bank of the Japan to act, but I think that the Bank of the Japan is rather stingy in this matter is the Kobe earthquake. He is still too early to say if there will be continued selling in the stock markets. The construction sector could get a big boost from this. »
TSUTOMU YAMADA, MARKET ANALYST, KABU.COM SECURITIES
"The extent of the damage is difficult to say, but seems to be devastating to the economy of the North of the Japan." The Government must act quickly to announce the support packages and the Central Bank should pump more money into the economy. Some manufacturers have factories in quake-hit region and they will have to take on the challenges in the reconstruction of these facilities. "But it is more important that this earthquake could hinder the overall economy of the Japan that everything has begun to show positive signs."
MITSUSHIGE AKINO, FUND MANAGER, ICHIYOSHI INVESTMENT MANAGEMENT, TOKYO
"We don't always know what damage such as, but stocks will likely fall Monday, particularly shares in companies that have factories in the affected areas, but on the whole of the predatory use probably be of short duration." As during the Kobe earthquake in 1995, the reaction of the stock market be momentary, also because the epicentre was far from Tokyo, and it is not likely to affect the Japanese economy as a whole.
TSUYOSHI SEGAWA, EQUITY STRATEGIST, MIZUHO SECURITIES
"As I can see on television, Tokyo and the northern part of the Japan have been considerably damaged, which could cause the panic selling after the end of week." It is possible that the shares of some companies related to the construction ride as back in 1995 when we had the earthquake in Kobe. But we are still uncertain about the macroeconomic effects at this time for investors should not make assumptions and carefully assess the situation.
YASUO YAMAMOTO, SENIOR ECONOMIST, MIZUHO RESEARCH INSTITUTE, TOKYO
"We don't yet know the full scale of the damage, but in light of what happened after the earthquake in Kobe, which will certainly lead the Government to compile a budget emergency." The Government would have to sell bonds, but it is an emergency situation, so this cannot be avoided.
"Given where the interest rate of the Bank of the Japan reference is now, they can not really lower rates." The Bank of the Japan will focus on the provision of liquidity, possibly by the expansion of market operations. There are factories of automobile and semiconductor North of the Japan, there will be some economic impacts result damage to plants. We expect consumption to fall. This may temporarily lower gross domestic product. »
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