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US stock market daily report (March 24, 2014, Monday)

March 25, 2014, Tuesday, 04:16 GMT | 00:16 EST | 09:46 IST | 12:16 SGT
Contributed by Millennium Traders


Part of nuclear-security measures announced at a summit in the Netherlands, Japan agreed to turn over hundreds of kilograms of nuclear material to the USA. During the 1960's, Japan borrowed plutonium for research from the U.S.A., an amount equivalent to a fraction of the roughly nine tons of plutonium currently in Japan. For quite some time, the U.S. has been requesting Japan return the plutonium. During 2013 the U.S. addressed concerns over security of the plutonium held by the Japanese.

Officials from both the USA and Japan confirmed the plutonium would be sent to a secure facility in the U.S. which would then be converted into less sensitive forms.

The Japan Atomic Energy Agency has been holding the plutonium and highly enriched uranium at a facility north of Tokyo, at a facility in Tokai. JAEA can continue its research without the need for highly enriched uranium, which could be used to produce a nuclear weapon or separated plutonium.

Recently, the Chinese government has increased criticism of Japan's weapons-grade plutonium and enriched uranium, saying the stockpile held by the Japanese is a risk to nuclear nonproliferation. Yoshihide Suga, chief government spokesman for Japan, said Monday that the Chinese criticism does not reflect reality. Suga said that the government of Japan maintained a position that as the "sole victim of a nuclear attack and an advanced nuclear power nation," Japan has peaceful intentions. He added that Japan's nuclear program has been thoroughly vetted by the International Atomic Energy Agency.

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