|Published : 13 Oct 2016, 10:35:49|
Nikkei shares slip as yen rebounds
Japan's Nikkei share average gave up early gains and slipped on Thursday as the yen clawed back ground it had lost to the dollar.
The Nikkei slipped 0.4 per cent by midday to 16,774.26, moving away from last Friday's five-week highs.
The dollar skidded 0.5 per cent to 103.59 yen, moving away from its Wednesday high of 104.49 yen, which was its highest level since late July.
Shares of Toyota Motor Corp and Suzuki Motor Corp rose 0.2 per cent and 2.0 per cent, respectively.
Hoya Corp shares fell 1.9 per cent after the Japanese optical device maker said on Wednesday that it will acquire Performance Optics of the US for about $476 million.
The broader Topix was down 0.1 per cent at midday at 1,340.48.
The JPX-Nikkei Index 400 slipped 0.2 per cent to 11,993.87, according to a news agency report.