Japanese shares flat by noon

TOKYO: Tokyo shares ended Monday morning flat amid concerns over a firm yen and caution before a string of key Japanese and US economic data, brokers said.

The benchmark Nikkei index slipped 4.55 points or 0.05 percent to 9,517.39 by the lunch break. The Topix index of all first-section issues was up 0.24 points or 0.03 percent at 825.14.

Traders are exercising caution ahead of the release of important numbers due later this week, including domestic industrial output figures Tuesday and a US jobs report on Friday, brokers said.

"The market anticipates (Japan's) economic recovery in the latter half of the fiscal year but we already know the April-June figures will be severe so it's difficult to buy (stocks) now," said Kenichi Hirano, an operating officer at Tachibana Securities.

"There continues to be a lack of buying incentives at home while concerns about a slowdown in the global economy and European debt problems still weigh on the market," said Hiroichi Nishi, general manager at SMBC Nikko Securities.

Investors are also unlikely to trade in large volumes with US and UK markets closed Monday for public holidays, he told Dow Jones Newswires.

Honda Motor fell 0.97 percent to 3,040 yen on a report in the Nikkei business daily that it will forgo additional share buybacks.

Exporters were off, with Sony falling 1.66 percent to 2,131 yen.

The dollar firmed to 80.82 yen in Tokyo morning trade, up from 80.77 yen in New York late Friday but down from rates above 81.00 yen on Friday in Asia.

Copyright AFP (Agence France-Presse), 2011