TOKYO: Japanese shares slipped 0.11 percent Monday after a quiet trading day as investors searched for fresh cues while Japan Inc. geared up for its annual reporting season which starts this week.
The headline Nikkei index lost 10.25 points to close at 9,671.96 while the Topix index fell 0.18 percent or 1.50 points to 840.68.
"The earnings season has finally kicked off in Japan, but it's still difficult to pin down a clear market direction," said Toshikazu Horiuchi, an equity strategist at Cosmo Securities.
Kazuhiro Takahashi of Daiwa Securities said: "The overall tone will not be set until after the Golden Week holiday," with normal trading resuming May 9.
Trading in Tokyo remained quiet, with several overseas markets still closed after the Easter holiday.
Global investors were waiting for US Federal Reserve chairman Ben Bernanke's news conference on Wednesday, analysts said.
Investor sentiment was lifted by a report that construction equipment maker Komatsu's operating profit surged thanks to robust demand in North America, said Masayoshi Yano, a senior market analyst at Meiwa Securities.
"I have been quite cautious on the (overall) corporate earnings outlook, but it may be slightly stronger than expected," he said.
On the Tokyo bourse, Komatsu rose 0.39 percent to 2,785 yen.
Toyota Motor fell 0.60 percent to 3,275 after announcing Japan production plunged 62.7 percent year on year in March following the quake and tsunami.
Sony eased 0.40 percent to 2,467.
Comments
Comments are closed for this article.