Nikkei225 and the Fukushima crisis

Just after Fukushima tragedy began Nikkei dived to 8605.

Seeking Alfa analyst Darrel Whitten estimated on March 20, 2011 that:

  Nikkei 225 could rebound to 12,000 (30%) without much trouble: 

"....Japan’s stock and financial markets,  have already largely discounted the worst of the disaster—including the nuclear crisis—with the 22% fall in the Topix and a similar 21% fall in the Nikkei 225 between the close on March 10, 2011 and the midday low on March 15. The Nikkei 225 could rebound to 12,000 (30%) without much trouble, while we suspect that much stronger fundamentals will be needed for a move beyond that."

http://seekingalpha.com/article/259091-dispelling-myths-about-rebuilding-japan

Today June 20, 2011 - Nikkei225 is 9354

It appears that Fukushima disaster has much broader impact on Japan than previously estimated.