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Mitsubishi up on compensation reports

Do Not UseDo Not Use 10/05/2016
Mitsubishi Motors logo © Getty Images Mitsubishi Motors logo

Shares in Mitsubishi Motors have risen on media reports the Japanese car maker will compensate customers after it admitted falsifying fuel efficiency data.

Mitsubishi Motors' shares have lost some 50% of their value since the scandal. On Tuesday shares rose 1.9%.

Japan's Nikkei 225 closed 2.2% higher at 16,565.19 points.

Takata shares shed 7.4% on reports of an additional seven million recalls of its faulty airbags.

On Monday, Takata had also said it was expecting a loss instead of a profit for the fiscal year until March due to the soaring costs of their global airbag recall.

China inflation

In China, markets were reacting to fresh inflation data showing April's price increases steady from the previous year.

The consumer price index (CPI) was up by 2.3% on the same month the previous year.

The Shanghai Composite index was flat at 2,832.59 points at the close of Tuesday's session. Meanwhile Hong Kong's Hang Seng closed higher by 0.4% at 20,242.68.

Australia's ASX/200 finished trading 0.4% higher at 5,342.80, despite the country's commodity giants suffering from lower iron ore prices.

BHP Billiton and Rio Tinto both lost around 3%.

In South Korea, the benchmark Kospi index closed 0.8% up at 1,982.50 points.

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