22.11.201600:31:00UTC+00Nikkei Takes a Breather Following Rally, Earthquake Hit Seen Limited

Japanese stocks paused on Monday following a strong rally as investors priced in the impact of a strong earthquake that struck northern Japan. The Nikkei share average remained flat at 18, 101.72 in midday trading.

Ahead of the opening of the Tokyo market, Nikkei futures traded in America shortly edged down following the quake. The tremors have also triggered tsunamis in the coastline of Miyagi and Fukushima prefectures.

No deaths and serious injuries were reported in the aftermath of the quake. Analysts estimate that the quake will have no serious implications on investors sentiment, given that there were no reported suspension of manufacturing operations in the region to raise their concerns.

Mining shares attracted buying and extended their gains as global oil prices rallied. Meanwhile, exporters under performed due to the slight increase in the value of yen.