TOKYO, Aug 22 — Tokyo stocks closed flat today with investors in wait-and-see mode ahead of key US data expected later in the day and a speech by the Fed chairman the next day.
The benchmark Nikkei 225 index inched up 0.05 per cent, or 9.44 points, to end at 20,628.01, while the broader Topix index added 0.04 per cent, or 0.55 points, to 1,498.06.
Many players refrained from taking an overly bullish position as they await key US data expected later in the day, including initial jobless claims and PMI data.
Also attracting the global market’s attention was a speech tomorrow by Fed chair Jerome Powell, who is facing pressure from President Donald Trump to cut the policy rate.
Powell is scheduled to address the annual central bankers’ symposium in the western US city of Jackson Hole.
“Trade was sluggish due to a lack of fresh incentives,” Okasan Online Securities said in a note to clients.
It added that the market moved in a narrow range ahead of the release of major economic indicators and Powell’s speech.
The dollar traded at ¥106.31 (RM4.17) in Asia against ¥106.63 in New York yesterday.
Among major shares, robot maker Fanuc rose 0.32 per cent to ¥18,375 and major semiconductor test equipment supplier Advantest jumped 1.58 per cent to ¥4,175.
Construction equipment producer Komatsu added 0.24 per cent to ¥2.251.5.
Nintendo was down 0.12 per cent to ¥40,180, while Sony dropped 2.40 per cent to ¥5,851. — AFP
