Tokyo: Nikkei flat as investors eye Democratic race

[TOKYO] Tokyo's key Nikkei index closed flat on Wednesday with investors cautious as they eyed results from the race to become the Democratic challenger to US President Donald Trump.

The benchmark Nikkei 225 index inched up 0.08 per cent, or 17.33 points, to end at 21,100.06, while the broader Topix index was down 0.17 per cent, or 2.62 points, at 1,502.50.

"The Nikkei index rebounded to the 21,200 level at one point, but after that, it moved up and down as the results of the US Democratic race came in," Okasan Online Securities analyst Yoshihiro Ito said in a note.

Joe Biden, a former vice president under Barack Obama, seized the momentum in the race with a string of Super Tuesday victories against leftist rival Bernie Sanders.

The Nikkei had opened lower with investors underwhelmed by the US Federal Reserve's surprise rate cut.

AFP