Nikkei drops as yen strengthens; Sharp soars on report to list LCD venture

  • Reuters
  • Stock Market News
Nikkei drops as yen strengthens; Sharp soars on report to list LCD venture
Credit: © Reuters.

TOKYO, Jan 5 (Reuters) - Japan's Nikkei fell on Thursday as the dollar fell against the yen on uncertainy over what the new U.S. presidency will bring, while Sharp Corp jumped after a report that it will consider listing its LCD joint venture between it and Hon Hai.

The Nikkei share average .N225 dropped 0.4 percent to 19,520.69 points.

Sharp 6753.T surged 11 percent after the Nikkei reported in the afternoon that the company will consider an initial public offering for Sakai Display Products Corp, the LCD joint venture between it and Hon Hai Precision Industry Co 2354.TW . dollar has been weak against the yen throughout Asian trading as minutes from the U.S. Federal Reserve's December meeting showed concerns that quicker economic growth under President-elect Donald Trump could require faster interest rate increases.

In afternoon trade, the dollar stepped further away from a 14-year peak against a basket of major currencies as the market was spooked by sharp falls in the dollar against the Chinese yuan. dollar slipped almost one percent at one point to 116.08 yen JPY= . At 0630 GMT, it was at 116.26.

The broader Topix .TOPX gained 0.1 percent to 1,555.68 and the JPX-Nikkei Index 400 .JPXNK400 advanced 0.1 percent to 13,950.40.

Add Chart to Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
Please try another search