The Financial Express

Nikkei share flat as drug maker weaken

Published: December 22, 2017 11:23:18 | Updated: December 22, 2017 15:32:31

Nikkei share nearly flat

Japan’s Nikkei share average was flat on Friday as gains in commodities trading houses offset weakness in drugmakers, while Kobe Steel stumbled after it said senior executives were aware of data tampering.

The Nikkei was flat at 22,869.58 in midmorning trade. For the week, it has gained 1.4 per cent so far, the biggest weekly percentage gain in more than a month, reports Reuters.

The pharmaceutical sector tumbled 1.6 per cent and was the worst performer on the board. Santen Pharmaceutical stumbled 13.5 per cent.

Kobe Steel Ltd dropped more than 2.0 per cent after the company admitted for the first time that executives were aware of the cheating, and reassigned three senior officials.

Outperforming the market were trading houses, with Itochu Corp rising 1.6 per cent and Sumitomo Corp gaining 1.3 per cent.

The broader Topix rose 0.3 per cent to 1,827.35.

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