Nissan and Honda ended talks to merge and create a $60 billion carmaker on Thursday, pitching Nissan into deeper uncertainty and underlining the difficulties faced by many auto manufacturers as Chinese rivals disrupt the industry.

This confirms earlier reports that said Nissan and Honda were set to end deal talks. Shares of Honda gained 2.14% on Thursday, while Nissan's stock slipped 0.34%.Japanese automakers Honda and Nissan said Thursday they would terminate merger talks,

Japanese auto giants Honda and Nissan confirmed they've scrapped merger talks announced in December​, ending a tie-up that would have created the world's third-largest automaker.