Tokyo stocks slipped Friday morning as some technology issues tracked overnight falls in their U.S. peers, with investors remaining hesitant to make bold moves ahead of crucial U.S. jobs data for May due later in the day.
The 225-issue Nikkei Stock Average fell 42.47 points, or 0.11 percent, from Thursday to 38,661.04. The broader Topix index was down 1.21 points, or 0.04 percent, at 2,756.02.
The U.S. dollar moved narrowly in the upper 155 yen range in Tokyo as many traders took to the sidelines ahead of the release of U.S. nonfarm payroll data that could provide clues on the timing of prospective interest rate cuts by the Federal Reserve, dealers said.
At noon, the dollar fetched 155.81-82 yen compared with 155.61-71 yen in New York and 156.27-29 yen in Tokyo at 5 p.m. Thursday.
The euro was quoted at $1.0895-0899 and 169.75-83 yen against $1.0885-0895 and 169.43-53 yen in New York and $1.0877-0879 and 169.98-170.02 yen in Tokyo late Thursday afternoon.
Moves on the stock market were limited as market players cautiously awaited the key U.S. jobs report after recent data showed signs of weakness in the world's largest economy, brokers said.
"As previous data indicated the economy was quite strong, the recent soft data increased the likelihood that it was heading for a soft landing," said Masahiro Yamaguchi, head of investment research at SMBC Trust Bank.
"Japanese shares are likely to be lifted if the U.S. economy sees its employment and inflation cool, fueling speculation about interest rate cuts," he added.
