November 28, 2017 / 6:18 AM / 2 years ago

Nikkei dips in choppy trade; Toray drops, defence-equipment shares up

TOKYO, Nov 28 (Reuters) - Japan’s Nikkei share average dipped on Tuesday in choppy trade, with Toray Industries diving after it said a subsidiary had falsified data, while concerns North Korea might launch more missiles lifted stocks linked to defence.

The Nikkei closed 0.04 percent lower at 22,486.24, after earlier trading in positive territory.

Toray, a producer of synthetic fibres and textiles, lost 5.3 percent after it revealed 149 cases of quality data falsification at a materials-making subsidiary.

Producers of defence-related products soared after North Korea was suspected of preparing for another ballistic missile launch.

Howa Machinery Ltd, which makes firearms as well as machine tools and construction equipment, climbed 12.5 percent, gas mask maker Koken Ltd gained 2.3 percent, and flare and smoke marker manufacturer Hosoya Pyro-Engineering Co surged 5.3 percent.

Drug maker Shionogi & Co gained 2.1 percent with the company set to repurchase up to 4.8 million of its own shares, or 1.5 percent of outstanding stock.

The broader Topix slipped 0.26 percent to 1,772.07. (Reporting by Ayai Tomisawa and Shinichi Saoshiro; Editing by Shri Navaratnam)

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