TOKYO: Japanese shares opened 0.43 percent lower on Thursday with investors retreating to the sidelines as they wait for Chinese and US economic data after downbeat growth statistics in Japan. The Nikkei index of the Tokyo Stock Exchange opened down 45.37 points at 10,544.13. Government data released just before the opening bell showed Japan's economy contracted by a revised 1.3 percent in the October-December quarter, compared to an initial estimate of 1.1 percent. Investors are braced for more data on Friday. They are likely to take a wait-and-see stance ahead of eagerly awaited Chinese inflation data, US retail sales data and planned anti-government rallies in Saudi Arabia, said Toshiyuki Kanayama, market analyst at Monex.
"In the absence of any significant developments in Libya today, the market would trade sideways," he told Dow Jones Newswires. US stocks were flat Wednesday following the chop and change of the oil market, as concerns about events in Libya and a lack of indicators provided little direction for traders. The Dow Jones Industrial Average dropped 1.29 points (0.01 percent) to finish at 12,213.09. The euro was at $1.3905 in early Asian trade on Thursday, flat from New York late on Wednesday. The dollar edged up to 82.82 yen from 82.70 yen.
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