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Tokyo stocks open almost flat.

TOKYO, May 24 Kyodo

Tokyo stocks opened almost flat Thursday as buybacks after a sharp fall in the previous session was countered by selling on a stronger yen versus the euro.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average edged up 6.80 points, or 0.08 percent, from Wednesday to 8,563.40. Meanwhile, the broader Topix index of all First Section issues on the Tokyo Stock Exchange shed 0.15 point, or 0.02 percent, to 721.42.

Although some investors were prompted to buy back stocks after the Nikkei plunged nearly 2 percent Wednesday, the yen's rise versus the euro weighed on export-linked shares, clouding hope for improvements in corporate earnings, brokers said.

The euro traded just below the 100 yen line early Thursday, compared with the upper 100 yen range in Tokyo late Wednesday.
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Publication:Japan Weekly Monitor
Geographic Code:9JAPA
Date:May 29, 2012
Words:142
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