Tokyo: Stocks open flat

[TOKYO] Tokyo stocks opened flat on Thursday after profit taking snapped a five-day winning streak the previous day.

The Nikkei 225 index at the Tokyo Stock Exchange, which hit 15-year highs earlier this week, added 0.01 per cent, or 2.67 points, to 18,587.87 at the start.

Higher oil prices helped underpin the market as stocks of energy companies rose.

Global oil prices rebounded sharply Wednesday after a mixed US oil inventories report left traders focusing on its positive elements for demand.

The dollar fetched 118.82 yen early Thursday, compared with 118.86 yen in New York Wednesday afternoon.

US Federal Reserve chair Janet Yellen, in a second day of testimony in Congress on Wednesday, provided no fresh clues on the timing of a rate increase, seen this year, but again signalled that the central bank was in no hurry to raise rates.

The euro bought US$1.1361 and 135.06 yen against US$1.1360 and 135.02 yen in US trade.

AFP