Tokyo stocks edged lower Wednesday morning, pulled down by moves to lock in gains after the Nikkei index notched all-time highs for the past three consecutive trading days.
The 225-issue Nikkei Stock Average fell 47.53 points, or 0.12 percent, from Tuesday to 39,191.99. The broader Topix index was down 5.89 points, or 0.22 percent, at 2,672.57.
The U.S. dollar was capped in the lower 150 yen range as a wait-and-see mood prevailed ahead of U.S. personal consumption expenditure data for January due out Thursday.
At noon, the U.S. dollar fetched 150.46-47 yen compared with 150.44-54 yen in New York and 150.35-36 yen in Tokyo at 5 p.m. Tuesday.
The euro was quoted at $1.0836-0840 and 163.04-11 yen against $1.0840-0850 and 163.17-27 yen in New York, and $1.0855-0856 and 163.21-25 yen in Tokyo late Tuesday afternoon.
Stocks wavered between positive and negative territory from the outset, as buying on continued high expectations for Japanese equities was offset by selling amid a lack of fresh catalysts to drive further upward movement, analysts said.
With investors waiting for the next batch of U.S. macroeconomic data, "it is natural for profit-taking pressure to increase significantly given how quickly (the Nikkei) has risen to reach historical highs," said Chihiro Ota, assistant general manager of investment research at SMBC Nikko Securities Inc.
