NEW YORK Nov 21 Nikkei futures traded in the
United States briefly fell on Monday after a 6.9
magnitude earthquake hit northern Japan, followed by a tsunami
There were no immediate reports of damage or injury from the
quake, which struck at 5:59 a.m. on Tuesday, Japan time (2059
The earthquake brought back memories of a deadly magnitude 9
quake in March 2011.
In the days following that temblor, the Nikkei
tumbled 16 percent while the yen strengthened more than 7
percent against the U.S. dollar.
On Monday, the yen strengthened briefly, though it remained
near a more than five-month low hit earlier in the session.
"I know the yen moved up big, and that's always kind of the
case because people think that money will be getting
repatriated," said Stephen Massocca, chief investment officer of
Wedbush Equity Management LLC in San Francisco.
"It's too early to tell ... but it appears there's not a lot
of damage, so I think the currency move is going to reverse
"Unless we're missing something here and there's some
significant damage, it's going to be meaningless" in terms of
the markets, Massocca added.
During the regular session on Monday, the Nikkei share
average rose for a fourth consecutive session, adding
0.8 percent to 18,106.02, its highest closing level since Jan.
Nikkei futures were last up 0.1 percent.
(Reporting by Rodrigo Campos and Caroline Valetkevitch; Editing
by Jonathan Oatis)