Japan Crisis Hitting Food Exports, Uranium Miners, Tourism

This is a transcript of top stories presented by China's CCTV Business Channel as produced by CNBC Asia Pacific.

Good evening, I'm Saijal Patel and you're watching "Asia Market Daily".

While the battle to contain the nuclear situation in Fukushima continues, attention has now turned to the disaster's impact on the nation's tourism industry.

As Japan welcomes the Spring Cherry Blossom Festival - normally a popular time for tourists to visit - those working in the hospitality sector are facing a very lean season.

Before the quake, tourism was expected to contribute nearly 7 percent to Japan's GDP this year, or 33 trillion yen - that's according to the International Air Transport Association.

But now, with concerns about radiation, industry experts say that figure is likely to be much lower.

(SOT) Fergus Stewart, Regional General Manager, Greater Tokyo at ANA Intercontinental Hotel:
It's not as good a situation as we would have liked, occupancy is definitely down, the hotel is certainly running above, above, almost 60 percent. Certainly if I was looking at it from overseas, looking into Tokyo, I wouldn't want to travel here. And yet the people who are living in this city are getting on with their lives as normal.

The crisis is also affecting Japan's food exports.

Fukushima, and three other prefectures have stopped food shipments - amid concerns about radioactive contamination.

While the World Health Organization warns radiation levels in some food products are a lot more serious than first thought.

Satish Lele, of Frost & Sullivan says although fears about food safety may impact sales in the short-term, it's still too early to tell what the long-term impacts might be for Japan's agricultural sector.

(SOT) Satish Lele, Vice President, Industrial at Frost & Sullivan:
At this point of time, I do not feel that you know, the threat is really significant for areas as far out as Tokyo, but definitely in the surrounding areas, 50 to 60 kilometers around the plant, definitely a very severe situation.

Meanwhile, concerns about the future use of nuclear energy is hurting uranium miners.

Firms in both Australia and Canada have seen their share prices tumble, since the nuclear crisis broke out.

But Peter Akerley of Erdene Resource Development says the situation does not spell the end for uranium demand.

(SOT) Peter Akerley, President & CEO at Erdene Resource Development:
A buzz that uranium is over may be a bit of a stretch. There's certainly been a knee jerk reaction to the event and uranium companies in Canada particularly have seen their capitalization decrease dramatically. I think we've seen near $10 billion wiped off the Toronto Stock Exchange for uranium companies.

Turning now to neighboring South Korea.

Billionaire investor Warren Buffett has commented on the flood of foreign money pouring into the economy.

Speaking with SBS-CNBC's Rhie-Young Lim in the country's south, Buffett was fairly bullish on the nation's growth prospects.

(SOT) Warren Buffett, Chairman & CEO, Berkshire Hathaway:
South Korea has been a gold rush going really since 1998 or 1999, after they went through that trouble, it's just amazing that the recovery the economy's had, so you are in the midst of gold rush and it's going to continue.

Buffett also complimented South Korean steelmaker Posco, adding that he's invested more than a billion dollars in the firm.

(SOT) Warren Buffett, Chairman & CEO, Berkshire Hathaway:
I think we've probably owned our Posco stocks for six or seven years, so we think about it, what it's going to do over the long period of years, and as you know they are expanding their capacity around the world. They've done a terrific job here in Korea, so it's not a week to week or month to month situation, I do think steel demand will increase.

To the ongoing crisis in Libya.

Oil prices continued to climb in Asian trade today - as coalition forces launched a third round of air strikes.

Analysts warn the rise in oil prices could mean inflation in Asia will peak later than expected.

Simon Godfrey tells CNBC how BNP Paribas Investment Partners is playing the energy space.

(SOT) Simon Godfrey, Head of Investment Specialists, EM Group, BNP Paribas Investment Partners:
If we look at what we're doing in portfolios, the kind of situation we have at the moment is obviously very good for the energy sector for a number of reasons so we are exposed to that. We like energy, we also like coal within the energy space. We like materials, we like petrochemicals companies because we think they can actually pass through the rising oil prices to their customers.

Thanks for watching "Asia Market Daily". I'm Saijal Patel from CNBC.

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