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Japan stocks lead Asian markets lower

Do Not UseDo Not Use 24/05/2016
Nikkei stockboard © AFP Nikkei stockboard

Japanese shares lost ground as oil prices fell and the yen strengthened slightly against the dollar.

Nissan logo © Getty Images Nissan logo

By the close of trade, Tokyo's Nikkei 225 index was down 0.9% at 16,498.76.

Shares in carmaker Nissan fell 0.8% as reports suggested the company might sell its stake in auto parts supplier Calsonic Kansei.

The sale would generate cash to help develop electric cars and artificial intelligence, the Nikkei newspaper reported.

Last month, Nissan took a 34% stake in Mitsubishi Motors to support the embattled company after it admitted falsifying fuel consumption figures.

Major foreign car parts makers, as well as US and European investment funds, appear to be interested in the stake, the Nikkei reported.

In China, the mainland Shanghai Composite index closed 0.8% lower at 2,821.67, while Hong Kong's Hang Seng ended flat at 19,830.43.

South Korea's Kospi index ended the trading day down 0.9% at 1,937.68.

In Australia, the ASX/200 closed 0.4% lower at 5,295.60.

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