Tokyo, April 26, 2024 (AFP)
Tokyo stocks were flat in early trade Friday, shrugging off falls on Wall Street with traders' eyes on the Bank of Japan's policy decision later in the day and the weak yen.
The benchmark Nikkei 225 index down 0.05 percent, or 20.30 points, at 37,608.18 about an hour after the opening bell, while the broader Topix index was down 0.13 percent, or 3.40 points, at 2,660.13.
"A wait-and-see attitude will likely grow" ahead of the Bank of Japan's policy decision at around midday (0300 GMT) and governor Kazuo Ueda's press conference, as well as a long weekend, said Matsui Securities.
Bargain-hunting of individual shares with good corporate earnings will likely continue, it added.
The dollar fetched 155.62 yen in early Asian trade, against 155.64 yen in New York late Thursday.
The Japanese central bank is set to wind up a two-day policy meeting and governor Ueda will speak to reporters later Friday.
The BoJ is widely expected to keep its key interest rate, after ditching its negative rate policy in March, its first rate cut since 2007.
Market watchers are closely monitoring Ueda's comments for his views on the weak yen which is at three-decade lows, and for clues on the timescale of a future rate hike.
The central bank operation is independent from the finance ministry which is in charge of intervention in forex markets but its view is still important to gauge, for example, the impact of the cheap yen on the Japanese economy.
Among major shares in Tokyo, Daiichi Sankyo was up 1.43 percent at 4,834 yen after the drugmaker announced a share buy-back and increase in dividend payments.
SoftBank Group was up 1.57 percent at 7,722 yen. Oil retailer Idemitsu Kosan was up 1.27 percent at 1,035.5 yen. Panasonic rose 0.64 percent at 1,333.5 yen.
Honda was down 0.95 percent at 1,729.5 yen after it announced an investment in Canada worth Can$15 billion (US$11 billion) for a new EV battery and vehicle assembly plant.
Its bigger rival Toyota, which announced a new investment of $1.4 billion in its Indiana plant in the United States, was off 0.37 percent at 3,484 yen. Nissan was down 0.97 percent at 541.4 yen.
kh/stu/sco
Sumber : AFP