Nissan shares drop on takeover reports

Nissan logo Image copyright AFP

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.

Nissan shares fell 1.4% while Mitsubishi Motors was suspended from trading after news emerged of the possible tie-up.

Japan’s Nikkei 225 was down 0.5% to 16,497.62 points.

Trader sentiment was weighed down by a disappointing close on Wall Street overnight.

The negative lead from the US also affected Asia’s other main markets.

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.

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.

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