Toshiba shares seesawed Wednesday morning, after the Japanese electronics company’s unusual release of earnings data without an auditor’s opinion drew a mixed reaction from investors.
Although the shares opened lower on concerns about Toshiba’s future, investors later stepped in, buying on hopes that the sale of its profitable chip unit will fatten the company’s books.
Toshiba rebounded, rising 2.6%, or 5.70 yen (£0.0417), at one point from their close Tuesday, to 229.20 yen (£1.6749) after tumbling 3.6% in early trade. Toshiba shares closed at 221.20 yen (£1.6170), down 1%.
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