Tokyo: Nikkei ends flat as investors cautious ahead of US data

[TOKYP] Japan's benchmark Nikkei index ended flat on Monday, weighed down by chip-related stocks tracking a muted Nasdaq trade in the previous session, while investors were also cautious ahead of key US economic data due later this week.

The Nikkei was flat at 28,084.02 at the close, while the broader Topix edged up 0.15 per cent at 1,965.67.

The Topix Growth Index slid 0.05 per cent, while the Topix Value index rallied 0.35 per cent.

"Some key US economic reports such as jobs data will be released later this week, so inventors will remain cautious for the whole week," Tomoichiro Kubota, a senior market analyst at Matsui Securities, said. "But that does not mean sentiment is bad as other indexes have risen."

The S&P 500 ended last week at a record high, led by Nike and several banks, while the Nasdaq closed slightly lower on Friday.

Chip-making equipment maker Tokyo Electron fell 1.63 per cent and chip-testing equipment maker Advantest lost 1.28 per cent.

Medical service platform firm M3 and drug maker Eisai fell 1.17 per cent and 1.83 per cent, respectively.

Seven & i Holdings jumped 4.47 per cent after the US antitrust authorities ordered 7-Eleven to sell over 200 retail outlets, resolving competition concerns over the Japanese retail giant's US$21 billion acquisition of the Speedway fuel chain from Marathon Petroleum.

Asics, which provides gloves and spikes to major leaguer Shohei Ohtani, tracked a surge in Nike shares to rise 3.68 per cent.

The underperformers among the top 30 Topix names were Daikin Industries, down 1.09 per cent, followed by Itochu, which lost 0.91 per cent.

The index of Tokyo Stock Exchange's second section rose 0.58 per cent, while the Mothers Index of startup firms gained 0.87 per cent.

REUTERS