Nikkei Surges as Warren Buffett Backs Japan as a Buying Opportunity

Asian markets rose Tuesday. In Japan the Nikkei 225 Index surged 4.4% to 9,608 and in Hong Kong the Hang Seng Index climbed 0.8% to 22,858. China's Shanghai Composite Index edged up 0.3% to end the day at 2,919.

Not everyone is focusing on the down side of Japan's triple disaster -- tsunami, earthquake and nuclear catastrophe. Warren Buffett, for one, has faith in Japan's economic prospects.

Speaking in South Korea, Buffett compared Japan's situation to America's after 9/11, saying it "didn't change the future of the U.S. or the economic prospect of the U.S.," reports the Telegraph. "I feel exactly the same way after what's happened in Japan. People have the same energy, they have the same desire to move on and the same resources to rebuild," the billionaire investor said.

Buffett added that "frequently extraordinary events really create a buying opportunity." And today, investors were certainly searching for bargains. Shares of Tokyo Electric Power, which operates the Fukushima Daiichi nuclear plant spiked 16.8%. While the company has an enormous clean up job ahead, Japan's lack of natural resources nearly assure that it's got big restructuring work ahead of it, too. Other nuclear companies were also a popular buy today with Toshiba soaring 12.8% and Hitachi rising 6.6%.

Rebuilding Japan

While many argue that it may take ages for bets on Japan to pay off, investors gambled that steelmakers will return handsome profits. Today JFE Holdings rallied 10.7%, Japan Steel Work climbed 7.7% Kobe Steel surged 7.6% and Nippon Steel and Sumitomo Metal Industries shot up 7.1%.

Oil companies also rose with JX Holdings racing up 11.6%, Japan Drilling gaining 8.8% and Inpex Corp. rising 3.5%.

Japanese engineering and building firms were other top performers. Taisei motored up 10.9%, Kajima rose 10.1% and Obayashi, advanced 6.6%.

In Hong Kong, the airline sector bounced back after fears that radiation leaking from Japan's damaged nuclear power plant would sap the travel industry. While few are heading to Japan to take in the annual cherry blossom festival, they are still traveling elsewhere and shares in Air China climbed 3.6%, China Eastern Airlines gained 4.1% and both China Southern Airlines and Cathay Pacific advanced 3.1%.

Other winners included Lonking Holdings, a construction machinery manufacturer, which surged 8.6% and Lenovo, a maker of computers and other electronic devices, which zipped up 6.5%.

In China, cement makers gained with Huaxin Cement leaping 6.1%, Gansu Qilianshan Cement jumping 5.5% and Anhui Conch rising 4.8%.

Meanwhile, alternative energy companies fared badly with Xiniang Goldwind Science & Technology plunging 3.2%, solar cell manufacturer Risen Energy declining 2.7% and Sinovel Wind losing 1.3%.

Other gainers on the Shanghai market were banks, which are promising to report strong earnings for 2010. Bank of China gained 0.6% and Industrial & Commercial Bank of China and China Construction Bank both rose 0.5%.

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Dereck

Major Fraud Alert


The entire Federal Banking System under FirstGov has been "Consumed" and "Levied" by way of a Maryland State Circuit/District Court Ruled “Appropriation and Garnishment” of all Future Earnings prior to and after 2004 against Bank Of America by way of the F.D.I.C. Regulations Prohibiting failing Banks from Merging with other failing Banks between the Dates of 08/04/08 and 10/09/09.

Bank of America violated the 21st Century Act: Final Amendments to Regulation CC Section: http://www.federalreserve.gov/boarddocs/press/bcreg/2004/20040726/attachment.pdf

seeking reimbursement of Credit, Loan, and Finance Balances as a "Bank Entity" and not a "Nonbank Consumer" as specified on Pages 85 and 86.

The person they sued through a LLC. Debt Collection Company and Law Firm was the "World Fortune Owner" who "Counterclaimed" and won.

Now all Contracts of any Corporations (Including Employment) under the "Controlling Interest" of any Investment Bank Worldwide are "Null and Void", and are also under the stipulated Rules and Regulations of an "Closely-held S Corporation rendering all Employed under Legal Actions against “Domination”, and also means that "No Corporation can hold Shares" (Proving Warren Buffetts claims of Corporate Stock purchases Fraud) officially making every Stock Exchange on the Planet a "Ponzi Scheme" by default.

Businesses owned by the States (Public Corporations) are being sold Stock Shares by Corporations also under the Federal Banking System in this Worldwide "Ponzi Scheme". The World Fortune Company Merrick Inc. Sweden is dissolving Millions and Billions of Dollars from "All Levels of Government"in the U.S. of Financing based upon Years of "negligent inaction" involving this case.

The Federal Government has already been forced to discontinue supplying the Financing States use to pay their debts, Persons in Government Offices may want to begin to take their jobs more seriously, these are different times from 10 Years ago and you will not be accepted civil servants here just because you say you are here to do the right thing.

May 29 2011 at 12:31 AM Report abuse rate up rate down Reply
crossrdsales

Nice to see Warren continues to act as the sounding board for the Global Elitists who in return allow him to commit open fraud against the investing public and receive extremely lucrative deals with similar scum bag organizations like Goldman Sachs.

Good job, Warren, your phony lip service and propaganda for the New World Order elitists is serving them well. You'll find out some day soon enough that you've sold your soul to the devil himself (Rothchildes, Rockefellers and Warburgs).

March 22 2011 at 12:18 PM Report abuse rate up rate down Reply
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