Nikkei rises in choppy trade; defence-equipment shares up, but Toray dives

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

TOKYO, Nov 28 (Reuters) - Japan's Nikkei share average climbed on Tuesday in choppy trade, with stocks connected to defence buoyed by concerns North Korea may launch a missile, while Toray Industries dived after it said a subsidiary had falsified data.

The Nikkei .N225 had edged up 0.2 percent to 22,559.00 by mid-morning trade, after earlier trading in negative territory.

Toray 3402.T plunged as much as 8.5 percent after the company said it will hold a news conference regarding data falsification at a subsidiary, in what could be the latest in a series of quality-assurance scandals to hit Japanese manufacturers. that make products related to defence soared, with a Japanese government source saying Japan has detected radio signals suggesting North Korea may be preparing for another ballistic missile launch, although such signals are not unusual and satellite images did not show fresh activity. Machinery Ltd 6203.T , which makes firearms as well as machine tools and construction equipment, climbed 13.3 percent, gas mask maker Koken Ltd 7963.T gained 3.1 percent, and flare and smoke marker manufacturer Hosoya Pyro-Engineering Co 4274.T surged 7 percent. broader Topix .TOPX added 0.2 percent to 1,780.82.

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