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Nissan shares drop on news of tie-up talks with Mitsubishi Mitsubishi shares jump 16% on news of Nissan stake
(about 5 hours later)
Shares in Japanese carmaker Nissan fell on Thursday after the company confirmed it was in talks to take a major stake in embattled rival Mitsubishi Motors. Shares in Mitsubishi Motors jumped 16.6% following suspension on news Nissan is planning to take a major stake in the embattled carmaker. Nissan itself fell 1.4%.
Nissan shares fell 1.4% while Mitsubishi Motors was suspended from trading after news emerged of the possible tie-up. Elsewhere in Asia, trader sentiment was weighed down by a disappointing close on Wall Street overnight.
Japan's Nikkei 225 was down 0.5% to 16,497.62 points. Japan's Nikkei 225 closed 0.4% higher at 16,646.34.
Trader sentiment was weighed down by a disappointing close on Wall Street overnight. China's Shanghai Composite was flat at 2,834.43 while Hong Kong's Hang Seng traded 0.5% lower at 19,949.91.
The negative lead from the US also affected Asia's other main markets. In Australia, the ASX/200 fell 0.2% to close at 5,359.30 points.
China's Shanghai Composite was down 2% to 2,782.26 points while Hong Kong's Hang Seng traded 0.4% lower at 19,978.08. South Korea's benchmark Kospi index finished the day flat at 1,977.49.
In Australia, the ASX/200 fell 0.6% to 5,341.60 points.
South Korea's benchmark Kospi index was flat at 1,977.68.