The Financial Express

Nikkei slides; Japan Display jumps

Published: December 20, 2017 10:56:56 | Updated: December 20, 2017 15:53:43

File Photo (Collected) File Photo (Collected)

Japanese stocks slipped on Wednesday as construction shares continued to be battered amid a suspected bid-rigging scandal.

Japan Display jumped on a media report the firm is discussing an investment from three Chinese panel makers.

The Nikkei share average dropped 0.1 per cent to 22,838.52 in midmorning trade, reports Reuters.

The construction sector slipped 1.0 per cent and was the worst sectoral performer again.

Obayashi skidded 0.8 per cent and Kajima stumbled 2.0 per cent, while Shimizu dropped 2.2 per cent.

Real estate shares also underperformed. Mitsui Fudosan declined 1.6 per cent and Mitsubishi Estate shed 1.4 per cent.

Financial firms, on the other hand, took heart from higher US yields and bucked the broad market. Mitsubishi UFJ Financial Group advanced 1.6 per cent and Dai-ichi Life Holdings rose 1.9 per cent.

Meanwhile, Japan Display Inc jumped more than 6.0 per cent after Kyodo reported that it is discussing an investment of more than 200 billion yen from three Chinese panel makers including BOE Technology Group Co.

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