Japan

Japan's Topix index posted its worst two-day results since the crash of 1987, as shares continued to sink.

Global insurance company share prices tumbled last night as concerns mounted about the cost of rebuilding Japan following Friday's earthquake and the resulting tsunami.

The sell-off in Japanese markets following last week's devastating earthquake represents a buying opportunity, says veteran investor Jim Rogers.

The rapid rise in the price of crude is reviving fears of a double-dip recession, Chris Iggo at AXA Investment Managers says.

Nomura predicts the devastating earthquake and tsunami in Japan will cut between 0.5% and 1% off the country's GDP next quarter.

Fund managers warn Japan could take a short-term hit to GDP following last week's earthquake and tsunami, but they are less concerned about the longer-term impact on the country's fragile economic recovery.

ON ASSET ALLOCATION

Japan's stock market lost almost 7% after its first full day of trading following the earthquake and tsunami that struck the country on Friday.

A major earthquake in Japan has rocked markets, which were already fragile yesterday as the FTSE 100 hit a five-week low.

GLG has hired Jeffery Atherton as co-manager for the £1.1bn Japan CoreAlpha and £490m Japan CoreAlpha Equity funds, to work with Stephen Harker and Neil Edwards.