TOKYO: The Tokyo stock market was flat Monday morning as a weakening yen supported shares after they opened lower on weaker-than-expected Japanese GDP data and falls on Wall Street.
The benchmark Nikkei 225 index was unchanged by the break, adding a negligible 0.10 points to 13,615.29, while the Topix index of all first-section shares was slightly higher, adding 0.07 percent, or 0.77 points, to 1,141.68.
The Nikkei got off to a weak start, falling 1.14 percent at the open with Tokyo publishing Japan's latest quarterly economic growth figures shortly before the opening bell. But a decline in the yen on currency markets, which is good news for exporters, helped the Nikkei claw back early losses.
The growth data showed that the world's third-largest economy expanded 0.6 percent for the three months to June from the previous quarter, slower than a revised 0.9 percent rise in the January-March period.
The rate was also lower than analyst expectations of 0.9 percent quarterly growth.
The Nikkei index was likely to tread water during the session with a negative cue from US stocks ending lower on Friday, said SMBC Nikko Securities general manager of equities Hiroichi Nishi.
In New York Friday, the Dow Jones Industrial Average slipped 0.47 percent to 15,425.51.
The GDP data Monday came as many Japanese traders go on an annual summer holiday, known as "Obon".
"Stocks are likely to see reduced trading energy with the onset of the annual 'Obon' holiday this week," Nishi told Dow Jones Newswires.
Japanese camera-maker Nikon was down 2.54 percent to 1,682 yen. Its shares plunged nearly 15 percent Friday after the firm said profit dived 72 percent in the latest quarter, warning that compact camera sales were falling through the floor as consumers increasingly turn to picture-taking smartphones.
In other trade, Uniqlo clothing chain operator Fast Retailing was up 0.31 percent to 31,750 yen, All Nippon Airways added 0.48 percent to 207 yen while Sony rose 0.58 percent to 1,954 yen.
On forex markets, the dollar bought 96.59 yen, strengthening from 96.24 yen in New York on Friday and 96.05 yen after the GDP data were published Monday morning.
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