TOKYO: Tokyo stocks ended Monday morning flat as a strong yen offset another record-setting close on Wall Street, while earnings season kicks into gear.
The Nikkei 225 index at the Tokyo Stock Exchange dipped 1.74 points to 20,018.30 by the break, while the broader Topix index of all first-section shares edged up 1.20 points to 1,620.04.
Several hundred Japanese companies are set to report earnings this week, including Sony, Honda, Panasonic and Japan Airlines, with the yen’s sharp decline expected to translate into upbeat fiscal-year results for many export-oriented firms.
But the yen picked up Monday as a batch of weak data fuelled doubts about a mid-year US interest rate hike.
The dollar bought 118.89 yen, against 118.99 yen in New York and well off the 119.56 yen earlier Friday in Asia.
Markets are keen to see what the Federal Reserve — which kicks off a two-day meeting Tuesday — says about the timing of a rate rise after a US government report on durable goods orders raised more questions about the state of the world’s top economy.
