Takata Shares End Down Following Early Surge
Umer Jamshaid 4 years ago Thu 05th January 2017 | 02:05 PM
TOKYO, Jan 5, (UrduPoint / Pakistan Point News - 05th Jan, 2017 ) - Struggling auto parts maker Takata fell on Thursday as investors cashed in after its shares surged on news last week of an expected settlement over a US criminal probe into exploding airbags.
The Japanese auto parts supplier could reach a final agreement with the US Department of Justice before President-elect Donald Trump assumes office January 20, two sources familiar with the matter told AFP last week, broadly confirming a report in the Wall Street Journal.
Takata shares opened higher, soaring 22.44 percent at one point to 1,233 Yen -- marking a more than a 100 percent rise since December 28 when they started climbing on hopes of a resolution. But the early gains evaporated and the shares closed down 1.19 percent, or 12 yen, at 995 yen.