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TOKYO, Japan — Tokyo's key Nikkei index drifted lower at the open on Monday, following falls on Wall Street and the Bank of Japan's widely predicted decision to keep its policies unchanged.
The benchmark Nikkei 225 index slipped 0.14 percent, or 47.77 points, to 33,658.31 in early trade, while the broader Topix index edged up 0.12 percent, or 2.71 points, to 2,303.07.
The dollar stood at 141.82 yen, against 141.84 yen seen in New York on Friday.
On Friday, Wall Street capped an unusually strong week by giving back a fraction of the gains caused by surging expectations about the improving economy.
In Tokyo on Monday, cautious trading unfolded as stocks zigzagged between positive and negative territory.
While the market in Japan "was seen starting on a firm note due to a weaker yen, the question is whether this firmness will continue throughout the day amid profit-taking selling", IwaiCosmo securities said in a note.
Last Friday also saw the BoJ announce it would maintain its long-standing, ultra-loose monetary policy.
The announcement prompted the Japanese currency to sink to around 141.39 yen per dollar in the afternoon, from around 140.20 yen in the morning.
Among major shares in Tokyo on Monday, SoftBank Group lost 1.76 percent to 6,522 yen, Sony Group trimmed 0.50 percent to 13,695 yen and Toyota gave up 0.97 percent to 2,293.5 yen.
Uniqlo operator Fast Retailing dropped 0.21 percent to 37,130 yen.
Agence France Presse
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