Japan’s Nikkei dropped on Thursday morning as a strong yen hurt investor risk appetite, while the auto sector saw a sell-off on news that some automakers improperly conducted vehicle inspections in the domestic market.
Mazda Motor Corp, Suzuki Motor Corp and Yamaha Motor Co have submitted reports to Japan’s transport ministry that they conducted improper fuel economy and emissions tests on their vehicles, the ministry said on Thursday.
Mazda fell 1.3 percent, Suzuki tumbled 6.1 percent and Yamaha declined 4.3 percent, dragging down the transport equipment sector by 1.1 percent.
The Nikkei share average dropped 0.3 percent to 22,576.06 in midmorning trade. The broader Topix shed 0.3 percent to 1,739.32.
Source : Reuters