Japan truth
The Japanese government is not reporting the obvious fact the area is contaminated with deadly radiation and it does not want the Japanese people or anybody else to know the full story.
A coordinated coverup of the severity of the situation is underway.
Argentina's benchmark Merval stock index fell 2% to close at 3,197.53 points amid moderate volume of 80 million pesos ($20 million). Wednesday's losses took the Merval down to its lowest point since Nov. 17. The Merval is down 9.3%, year to date.
Trade was volatile throughout the day as investors fled to quality, shying away from Argentine markets, said Bull Market Brokers analyst Francisco Marra.
However, Marra sees a chance for some bargain hunting, as once the situation in Japan stabilizes, there's likely to be a bounce in the market.
Power distributer Transener (TRAN.BA) led the losses among the index leaders, slumping 5.2% to ARS1.28.
The Global X FTSE Argentina 20 ETF, which tracks the globally listed shares of Argentine companies, fell 2.1% to close at $14.11 in New York.
The tone for global markets is likely to continue be set by events in Japan amid ominous signs that conditions may be deteriorating at the damaged nuclear plants.
Bonds also suffered from the sell-off.
The peso-denominated 2033 discount bond slipped 1.3% in price terms to ARS156, to yield 9.4%.
The dollar-denominated Global 2017, fell 0.6% in price terms to ARS398.20, with the yield at 8.4%.
The peso lost ground against the dollar Thursday, closing at ARS4.0400, compared to ARS4.0350.
CHF/JPY chart
