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Japan Post shares directionless after Thursday plunge

Institutional investors buying on dips

TOKYO -- Japan Post Holdings shares on Friday began trading lower, but recovered later as institutional investors started to buy them as they dipped. 

The shares on Thursday fell as much as 5.3% to an intraday year-to-date low of 1,278 yen, after news spread that the company is considering a possible write-down of several hundred billion yen in connection with the Australian logistics subsidiary it bought in 2015. They closed the day at 1,313 yen, a 2.7% decline. 

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