Tokyo stocks open flat

Tokyo - Tokyo stocks opened flat on Monday as investors looked for a fresh buying peg after rises last week on increased hopes of a resolution to the US-China trade impasse.

The benchmark Nikkei 225 index gained 0.04%, or 8.16 points, to 22 278.54 in early trade while the broader Topix index was down 0.13%, or 2.24 points, at 1 695.29.

"The market had already factored in the resumption of US-China talks somewhat, prices will move narrowly around the closing level (of Friday)," Okasan Online Securities chief strategist Yoshihiro Ito said in a commentary.

"Concern over the Turkish situation lingers," he added in a commentary.

SBI Securities wrote in a note that "there are few fresh trading pegs although there are hopes for moves to ease trade frictions between the United States and China."

Asian stocks rose on Friday on the news that Washington and Beijing would resume trade talks.

US stocks rallied later in the day following a Wall Street Journal report that Washington and Beijing were taking steps to try to resolve a trade dispute ahead of a November summit between US President Donald Trump and Chinese leader Xi Jinping.

The dollar was trading at ¥110.50 on Monday against ¥110.57 in New York on Friday afternoon.

In individual stocks trade, Toyota was down 0.61% to ¥6 761 while Nintendo climbed 2.05% to ¥36 170.

Panasonic, which supplies batteries to Tesla, was down 0.69% at ¥1 359.5, after the electric carmaker's shares tumbled on Friday as a wide-ranging interview with chief executive Elon Musk sparked fresh fears about the company's future.