Tokyo stocks were mixed Friday morning, as declines led by technology heavyweights following Wall Street falls were offset by buying of energy issues as U.S. oil futures hit a four-month high.
The 225-issue Nikkei Stock Average fell 55.84 points, or 0.14 percent, from Thursday to 38,751.54. The broader Topix index was up 15.36 points, or 0.58 percent, at 2,676.95.
The U.S. dollar briefly rose to the upper 148 yen range in Tokyo after higher-than-expected U.S. wholesale prices in February fueled expectations that the U.S. Federal Reserve may not cut interest rates in the first half of this year, dealers said.
At noon, the dollar fetched 148.45-47 yen compared with 148.27-37 yen in New York and 147.86-88 yen in Tokyo at 5 p.m. Thursday.
The euro was quoted at $1.0873-0874 and 161.41-45 yen against $1.0877-0887 and 161.37-47 yen in New York and $1.0935-0936 and 161.69-73 yen in Tokyo late Thursday afternoon.
Trading on the equities market was subdued due to caution ahead of the Bank of Japan's two-day policy meeting from Monday amid growing speculation that the central bank could end its negative interest rate policy, analysts said.
"The BOJ is likely to make a move by April at the latest," said Kazuo Kamitani, a strategist in the Investment Content Department of Nomura Securities Co. "The focus is whether it will continue to adopt an accommodative monetary policy stance."
Limiting the market's declines were energy-related firms including oil explorer Inpex, after the U.S. benchmark oil futures contract climbed as the International Energy Agency lifted its oil demand projection for 2024.
