Japanese Stocks Decline, Led by Insurers After Earthquake; Sumitomo Climbs

(Bloomberg) -- Japanese stocks dropped, led by
insurance companies such as Millea Holdings Inc. and power
producers after a magnitude 6.8 earthquake struck northwest Japan
yesterday, damaging a nuclear reactor operated by Tokyo Electric
Power Co.

The event will probably result in a push for more spending
on quakeproofing, the Nikkei newspaper reported. Millea fell the
most in three weeks and Tokyo Electric declined to its lowest
since December.


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