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Tokyo stocks open flat

Tokyo - Tokyo stocks opened flat on Wednesday, with a weaker yen providing support as investors shunned active trading in the middle of a holiday week.

The benchmark Nikkei 225 index inched up 0.08% to 22 525.91 in early trade while the broader Topix index was up 0.01% at 1 774.33.

"A wait-and-see mood is likely to grow in later trade with the latter half of the 'Golden Week' holidays starting tomorrow," Okasan Online Securities said in a commentary.

But the Tokyo market will be solid with the dollar nearing ¥110, it added.

Tokyo financial markets were closed on Monday and will be shut again on Thursday for the rest of the week.

The dollar was at ¥109.88, hardly changed from ¥109.87 in New York on Tuesday afternoon.

A cheaper yen is positive for Japanese exporters as it inflates their earnings abroad when repatriated.

Carmakers dropped despite the lower yen after they announced falls in US sales for April.

Honda fell 2.19% to ¥3 648 while Nissan was off 1.56% at ¥1 133.5.

Apple suppliers gained ground after the tech giant's announcement of a jump in second-quarter earnings, with Sony up 0.53% at ¥5 100 and Sharp up 1.11% at ¥3 180.

And Japan Tobacco jumped 5.07% to ¥3 032 after releasing a forecast-beating first-quarter profit.

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Rand - Dollar
18.89
+0.2%
Rand - Pound
23.84
+0.3%
Rand - Euro
20.38
+0.2%
Rand - Aus dollar
12.31
+0.2%
Rand - Yen
0.12
+0.2%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
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Brent Crude
87.00
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Top 40
68,346
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All Share
74,536
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Resource 10
57,251
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Industrial 25
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Financial 15
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