Tokyo stocks were mixed Monday morning as selling prompted by falls on Wall Street late last week was offset by buying on hopes that the Nikkei index will reach an all-time high soon.
The 225-issue Nikkei Stock Average fell 121.65 points, or 0.32 percent, from Friday to 38,365.59. The broader Topix index was up 3.58 points, or 0.14 percent, at 2,628.31.
The U.S. dollar slightly retreated to around the 150 yen line in Tokyo following the currency's sharp gain last week.
At noon, the dollar fetched 149.94-95 yen compared with 150.18-28 yen in New York and 150.23-24 yen in Tokyo at 5 p.m. Friday.
The euro was quoted at $1.0781-0782 and 161.65-68 yen against $1.0771-0781 and 161.80-90 yen in New York and $1.0760-0762 and 161.65-69 yen in Tokyo late Friday afternoon.
The Nikkei index was mostly in negative territory as high-tech issues were sold tracking a drop in their U.S. counterparts, while some participants locked in gains after the benchmark advanced to a fresh 34-year high on Friday, analysts said.
"But the downside was supported by investors buying shares on anticipation that the Nikkei index is very likely to hit its highest level this week," said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management Co.
