The benchmark Nikkei 225 index was up 0.70 percent or 191.98 points at 27,686.22 in early trade, while the broader Topix index edged up 0.75 percent or 14.28 points to 1,929.42
The benchmark Nikkei 225 index was down 0.08 percent, or 20.89 points, at 27,260.28 in early trade, while the broader Topix index lost 0.09 percent, or 1.80 points, to 1,895.39
Investors have for more than a year sent valuations surging on the back of colossal government and central bank support as well as optimism that the rollout of vaccines will help fight back against the coronavirus and allow economies to reopen
Expectations of an end to the largesse that helped drive a global equity rally for more than a year added to the already sombre mood on trading floors caused by the fast-spreading Covid Delta variant, which is forcing a re-evaluation of the economic recovery as fresh curbs are put in place
The figures ramped up expectations the Fed, in a bid to prevent overheating, will start reducing its colossal bond-buying programme earlier than it had thought
The drop in bond yields and the dollar gave gold a fillip last week but it again faltered at resistance around $1,832 and was last trading flat at $1,811 an ounce
Investors are keenly watching out for the upcoming first-half earnings season, which will largely determine the market outlook and sentiment for the rest of the year, Wang Qi added