Tokyo stocks open flat
Tokyo, (MILLAT ONLINE):Tokyo stocks opened flat on Tuesday in cautious trade ahead of major central bank policy decisions this week.
The benchmark Nikkei 225 index slipped 0.03 percent, or 7.26 points, to 22,931.47 in early trade, while the broader Topix index was up 0.03 percent, or 0.62 points, at 1,813.96.
“Investors are staying away from active trading ahead of central bank-linked events,” Okasan Online Securities said in a commentary.
The European Central Bank will hold a policy meeting on Thursday while the US Federal Reserve is due to announce its latest interest rate decision on Wednesday.
Most analysts expect the Fed will hike rates but they will scrutinise what central bank chief Janet Yellen has to say about the timetable for future increases.
Banks were higher on the prospects that a new set of international regulations dubbed Basel III could have less of an impact on the sector than expected, dealers said.
Mitsubishi UFJ was up 1.00 percent at 802.9 yen, and its rival Sumitomo Mitsui Financial rose 0.86 percent at 4,774 yen.
Struggling conglomerate Toshiba was up 2.65 percent at 309 yen following reports it had agreed to settle a dispute with US partner Western Digital over the sale of its memory chip business.
The dollar fetched 113.56 yen in early Asian trade, unchanged from the New York rate late Monday.