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​Japans Nikkei average fell on Thursday morning

2018-08-09 06:54 am | Resource: NEWS | No Views : 133

Japan's Nikkei average fell on Thursday morning, as the yen weighed heavily on risk appetite, while the automaker saw news sales that some automakers conducted vehicle inspections incorrectly on the domestic market.

The ministry said on Thursday that Mazda Motor Corp., Suzuki Motor Corp. and Yamaha Motor had reported to the Japanese Ministry of Transport that they had conducted inappropriate economic tests for fuel and emissions on their cars.

Mazda shares fell 1.3 percent, Suzuki fell 6.1 percent and Yamaha fell 4.3 percent, pushing the transport equipment sector by 1.1 percent.

The Nikkei fell 0.3 percent to 2,576.06 in mid-morning. The broader Topix index <.TOPX> was down 0.3 percent at 1,739.32

The dollar was down on trade tensions ahead of US and Japanese talks on Thursday in Washington, falling 0.15 percent to 110.78 yen, its weakest in nine days.

"Although the market is not much concerned that anything specific about Japan will come out, currency investors hate risk and buy the yen, and equity investors are also reluctant to take big positions," said Isao Kobo, stock strategist at Nissay Asset. Administration.

Japan will try to avoid sharp tariffs on its car exports and stave off US demands for a bilateral free trade agreement in the talks on Thursday.

Tech shares lost ground, with Kyocera Corp down 1.2 per cent and Hitachi Limited down 1.8 per cent.

Meanwhile, Pioneer Corp rose 14 percent after it said it was talking to companies including Calsonic Kansei on improving its business. Pioneer shares fell 24 percent over the past two days after net losses for electronic goods makers expanded from a year earlier.

Chua-dinko, which operates in the petrochemical sector, rose 7.9 percent after raising its net profit forecast to 115 billion yen from 85 billion yen in the fiscal year to December.

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