Tokyo stocks flat

Tokyo shares ended flat Wednesday as nervous investors await a key meeting of top oil producers later in the day hoping they can hammer out a deal to cut output and support prices. Markets want to see if the Vienna meeting of the Organisation of Petroleum Exporting Countries later Wednesday results in an agreement that would help reverse a long-running squeeze on energy firms.
Uncertainty over the chances of a deal being made have fuelled volatility in oil markets, with both main contracts plunging four percent Tuesday and only slightly recovering Wednesday in Asia. "We have a lot of events coming up so this week," said Shoichi Arisawa, an equity analyst with Iwai Cosmo Securities, told Bloomberg News. "There's the Opec meeting, the US jobs report, the Italian (constitutional referendum) this weekend, and there's a strong sense of wait-and-see."
The monthly US jobs figures are closely watched by investors, who are looking for a clues on how fast the Federal Reserve will tighten monetary policy. Tokyo's benchmark Nikkei 225 index was up 1.44 points at 18,308.48, while the Topix index of all first-section issues gained 0.06 percent, or 0.86 points, to 1,469.43. Oil explorer Japan Petroleum dropped 3.28 percent to 2,327 yen and oil refiner Idemitsu lost 0.91 percent to end at 2,588 yen.
Exporters were supported by the dollar's rise against the yen. The unit got a boost from Tuesday's release of stronger-than-expected US third quarter GDP, higher housing prices and a sharp rebound in consumer confidence. The greenback was at 112.63 yen, up from 112.36 yen at New York close and 111.99 yen in Asia on Tuesday. Automaker Honda climbed 0.75 percent to 3,332 yen and Panasonic jumped 2.46 percent to 1,164 yen.
Airbag maker Takata plunged 7.49 percent after a Japanese day trader told more than 100,000 of his Twitter followers that he has sold all his shares in the scandal-hit company. Pharma giant Takeda fell 1.01 percent to 4,685 yen after announcing a 100 million euro ($106 million) investment to build a new German factory for its Dengue fever vaccine. Nintendo lost 0.76 percent to end at 27,775 yen. Earlier Wednesday it announced a tie-up with Universal Parks and Resorts to create attractions featuring its video game characters at existing theme parks.