Tokyo Shares Fall By Noon

TOKYO, , (UrduPoint / Pakistan Point News - 29th Dec, 2016 ) - Tokyo shares drifted lower on Thursday in thin holiday trading after US stocks tumbled as investors took profits from recent rallies, though some individual stocks showed big moves.

Toshiba plunged for the third straight day and fell as much as 25.55 percent before paring losses to finish 15.43 percent down at 263.5 Yen by the noon break. The decline followed continuing investor unease after the company's Tuesday warning of a possible one-time loss of several billion Dollars over its US nuclear business.

Struggling Japanese auto parts maker Takata, meanwhile, surged more than 16.5 percent to 707 yen after news it is close to settling a US criminal probe into an exploding airbag scandal.

Takata could reach a final agreement with the US Department of Justice before President-elect Donald Trump assumes office January 20, two sources told AFP, broadly confirming a report in the Wall Street Journal.

Officials want Takata to recognise its wrongdoing and pay a financial penalty that could exceed $1 billion, one source said. Tokyo's benchmark Nikkei 225 index fell 0.98 percent, or 190.79 points, to 19,210.93 by the break.

The broader Topix index of all first-section issues lost 1.01 percent, or 15.57 points, to 1,521.23. On Wall Street Wednesday, the Dow Jones Industrial Average retreated from its push to hit the 20,000-point milestone, falling 0.6 percent to 19,833.68.