Tokyo stocks were mostly flat Monday morning, as gains from semiconductor-related shares offset selling amid caution before a slew of major Japanese companies release their earnings results.
The 225-issue Nikkei Stock Average rose 14.48 points, or 0.04 percent, from Friday to 38,243.59. The broader Topix index was down 0.18 point, or 0.01 percent, at 2,728.03.
The U.S. dollar remained firm in the upper 155 yen range in Tokyo, as traders bought the currency on prospects of a wider interest rate differential between Japan and the United States after long-term Treasury yields rose last week.
At noon, the dollar fetched 155.74-75 yen compared with 155.74-84 yen in New York and 155.68-70 yen in Tokyo at 5 p.m. Friday.
The euro was quoted at $1.0771-0772 and 167.75-77 yen against $1.0766-0776 and 167.76-86 yen in New York, and $1.0780-0782 and 167.83-87 yen in Tokyo late Friday afternoon.
Stocks were weak from the outset, with momentum lacking as investors awaited company earnings reports for the fiscal year ended March and their outlook for the current business year, analysts said.
But the market later trimmed losses, supported by semiconductor-related stocks that drew buying following the advance of a key U.S. semiconductor index late last week.
Among chip-linked issues that gained ground, Softbank Group, which is set to announce earnings later in the day, helped prop up the Nikkei index on high expectations for its expansion into semiconductor development for artificial intelligence, analysts said.
