Tokyo stocks open almost unchanged ahead of earnings reports

By DPA,

Tokyo : Tokyo stocks opened with little action Monday as cautious investors retreated to the sidelines ahead of upcoming corporate earnings reports by major Japanese companies.

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The Nikkei 225 Stock Average inched up 11.72 points, or 0.15 percent, to 7,756.97.

But the broader Topix index of all first section issues dipped 1.13 points, or 0.15 percent, to 772.42.

On currency markets at 9 a.m. (0000 GMT), the dollar traded at 88.40-45 yen, up from Friday’s 5 p.m. quote of 88.32-35 yen.

The euro was quoted at $1.2895-2900, up from late Friday’s quote of $1.2860-63, and at 114.03-08 yen, up from 113.60-64 yen.