Nikkei dips in choppy trade; Toray drops, defence-equipment shares up

  • Reuters
  • Stock Market News
Nikkei dips in choppy trade; Toray drops, defence-equipment shares up
Credit: © Reuters.

TOKYO, Nov 28 (Reuters) - Japan's Nikkei share average dipped on Tuesday in choppy trade, with Toray Industries diving after it said a subsidiary had falsified data, while concerns North Korea might launch more missiles lifted stocks linked to defence.

The Nikkei .N225 closed 0.04 percent lower at 22,486.24, after earlier trading in positive territory.

Toray 3402.T , a producer of synthetic fibres and textiles, lost 5.3 percent after it revealed 149 cases of quality data falsification at a materials-making subsidiary. of defence-related products soared after North Korea was suspected of preparing for another ballistic missile launch. Machinery Ltd 6203.T , which makes firearms as well as machine tools and construction equipment, climbed 12.5 percent, gas mask maker Koken Ltd 7963.T gained 2.3 percent, and flare and smoke marker manufacturer Hosoya Pyro-Engineering Co 4274.T surged 5.3 percent. maker Shionogi & Co 4507.T gained 2.1 percent with the company set to repurchase up to 4.8 million of its own shares, or 1.5 percent of outstanding stock.

The broader Topix .TOPX slipped 0.26 percent to 1,772.07.

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