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| Nissan shares up on Mitsubishi deal | Nissan shares up on Mitsubishi deal |
| (about 5 hours later) | |
| Shares in Japanese carmaker Nissan rose by 4.1% on Friday after the company clinched a deal to take a major stake in embattled rival Mitsubishi. | |
| The company will buy a 34% stake in Mitsubishi Motors, in the wake of the latter's recent scandal over fuel efficiency. | |
| Mitsubishi Motors shares were down, though, losing more than 1.7%, after Thursday's gain of 16%. | |
| Japan's Nikkei 225 fell 1.4% to close at 16,412.21 points. | |
| At the same time, shares in embattled electronics giant Sharp rose by 2.3%, despite the company reporting huge losses on Thursday. | |
| The struggling firm announced an operating loss of 162bn yen ($1.5bn) for the fiscal year ending March 2016. | The struggling firm announced an operating loss of 162bn yen ($1.5bn) for the fiscal year ending March 2016. |
| In March, Sharp accepted a takeover bid by Taiwan's Foxconn which will take effect in October. | In March, Sharp accepted a takeover bid by Taiwan's Foxconn which will take effect in October. |
| In China, the mainland Shanghai Composite traded flat at 2,830.40, while the Hang Seng in Hong Kong was down 1.2% at 19,673.41 points. | |
| In South Korea, the benchmark Kospi index fell 0.5%, ending the day at 1,966.99. | |
| The ASX/200 in Australia also finished down, 0.6% lower at 5,329.00 points. |