Asian shares mixed, Tokyo hit by new atomic fears

HONG KONG, Mar 29: Asian stock markets were mixed on Tuesday, with Tokyo falling for a second straight day as fresh concerns emerged over a meltdown at Japan's stricken Fukushima nuclear power plant. Jitters among already cautious traders were made worse when it emerged late Monday that plutonium had been detected in soil at the plant while highly contaminated water has leaked from a reactor, fanning environmental fears. Hidehiko Nishiyama, a spokesman for Japan's Nuclear and Industrial Safety Agency, said the detection of plutonium suggested "certain damage to fuel rods", in comments carried by Kyodo News. The Nikkei, which had fallen 1.47 per cent in the morning, bounced back in the afternoon session as worries about the plant eased and dealers bought on upbeat jobs data and renewed optimism about the US economy. The index ended the day just 0.21 per cent, or 19.45 points, lower at 9,459.08. "The market has digested the plutonium (contamination) news, and the bottom is supported by seemingly solid US economic recovery prospects," said Tatsunori Kawai, chief strategist at kabu.com. Shanghai closed 0.87 per cent, or 25.93 points, lower at 2,958.08 and Hong Kong ended flat, edging down 7.83 points to 22,060.36. Sydney added 0.47 per cent, or 22.2 points, to end at 4,755.8 and Seoul gained 0.77 per cent, or 15.74 points, to 2,072.13. Radiation worries have disrupted efforts to restart the cooling systems of the Fukushima No.1 plant, which was battered by a huge earthquake and tsunami on March 11.Shares in Tokyo Electric Power Co (TEPCO), which operates the plant, tumbled 18.67 per cent to stand at less than a third of their value before the crisis. TEPCO shares were also hit by a report that the government was considering temporarily nationalising it to help the utility's corporate reconstruction. - AFP