TOKYO: Japanese stocks were mixed Friday morning as a smooth Spanish bond auction and better-than-expected jobs data in the United States were tempered by ongoing eurozone fears.
The Nikkei index at the Tokyo Stock Exchange gained 0.38 percent or 31.71 points to 8,409.08 by noon. The Topix index of all first section shares dipped 0.06 percent or 0.46 points to 724.56.
"It's hard to trade," Yoshihiro Okumura, general manager at Chibagin Asset Management, told Dow Jones Newswires.
"Since concerns continue over European sovereign debt problems for the mid- to long-term, the market can't be risk-on even if the US economic indicators are strong."
Despite the swirling eurozone debt crisis, Spain enjoyed a bumper bond sale on Thursday, raising nearly twice the amount targeted as it snatched the chance to lock in competitive borrowing rates.
The bond auction, as well as figures showing stronger industrial activity and, improved trade and lower-than-expected US jobs claims gave US stocks a boost overnight.
The Dow Jones Industrial Average rose 45.33 points (0.38 percent) to finish at 11,868.81.
Dealers had expected Spain's bond auction and the US economic indicators would give a boost to the Tokyo market after the Nikkei index fell for three consecutive days.
But Yumi Nishimura, senior market analyst at Daiwa Securities, said rising momentum appeared tepid as "recent sharp falls in crude oil and gold continue to weigh," while the number of market participants has decreased as year-end approaches.
The euro was also helped, trading at $1.3040 and 101.55 yen in Asian trade, up from $1.3017 and 101.41 yen in New York Thursday.
The dollar bought 77.87 yen, compared with 77.89 yen in New York.
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