Tokyo stocks open flat on dip-buying, capped by COVID variant fears

© Kyodo News

Tokyo stocks opened nearly flat Wednesday as bargain-hunting following the market's three-day drop was offset by fears over the Omicron COVID-19 variant after Japan confirmed its first case the previous day.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 13.17 points, or 0.05 percent, from Tuesday to 27,834.93. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 1.08 points, or 0.06 percent, at 1,929.43.

Gainers were led by marine transportation, and pulp and paper, while air transportation and mining issues led decliners.

At 9 a.m., the dollar fetched 113.26-31 yen compared with 113.09-19 yen in New York and 113.18-19 yen in Tokyo at 5 p.m. Tuesday.

The euro was quoted at $1.1329-1333 and 128.36-37 yen against $1.1334-1344 and 128.22-32 yen in New York and $1.1328-1330 and 128.21-25 yen in Tokyo late Tuesday afternoon.