Tokyo stocks were mixed Tuesday morning, as buying of a wide range of issues on continued optimism over the U.S. economy was offset by the locking in of gains following the Nikkei index's recent all-time highs.
The 225-issue Nikkei Stock Average fell 59.79 points, or 0.15 percent, from Monday to 39,173.92. The broader Topix index was up 9.12 points, or 0.34 percent, at 2,682.74.
The U.S. dollar fell slightly to the mid-150 yen range after Japan's consumer price index for January came in higher than expected, fueling speculation that the Bank of Japan could end its negative interest rate policy.
At noon, the U.S. dollar fetched 150.49-50 yen compared with 150.65-75 yen in New York and 150.46-47 yen in Tokyo at 5 p.m. Monday.
The euro was quoted at $1.0849-0853 and 163.28-35 yen against $1.0845-0855 and 163.45-55 yen in New York, and $1.0832-0833 and 162.98-163.02 yen in Tokyo late Monday afternoon.
On the stock market, the Nikkei index briefly rose to a fresh record high as cyclical stocks sensitive to economic fluctuations, including machinery and banking issues, drew buying on continued expectations for a soft landing in the United States, analysts said.
But the benchmark index fell into negative territory later in the morning as investors moved to lock in gains after recent highs, with caution also prevailing ahead of upcoming speeches by high-ranking U.S. Federal Reserve officials and the release of U.S. inflation data later this week, said Maki Sawada, a strategist at Nomura Securities Co.
"As with the U.S. market, there is a considerable degree of caution over recent surges given that (the Nikkei) has refreshed its record high for (two) consecutive days," said Sawada.
