Tokyo stocks close flat

• Tokyo stocks closed flat as investors looked for evidence of increased economic activity in Japan.
• The Nikkei 225 index rose 0.08 percent, or 21.70 points, to 26,171.25.
• The Topix index fell 0.05 percent to 1,851.74.

Tokyo stocks closed flat, as investors looked for evidence of increased economic activity in Japan following the relaxation of influenza restrictions.

The Nikkei 225 index rose 0.08 percent, or 21.70 points, to 26,171.25, while the Topix index fell 0.05 percent, or 0.91 points, to 1,851.74.

Although the Tokyo market started with gains led by blue-chip exporters, the market sentiment “lacked the appetite for further active buying”, said Mamiko Katayama, a Daiwa Securities strategist.

Read More: Tokyo stocks close higher

“Worries over a potential recession prompted by monetary tightening policies overseas, including in the United States and Europe” weighed on share prices, she said.

However, “expectations that Japanese economic activities will resume further are supporting” some stocks, especially domestic-demand oriented shares.

The dollar fetched 135.81 yen, against 136.22 yen in New York on Wednesday.

Toshiba gained 3.54 percent to 5,696 yen after a report suggested at least one of the company’s bidders may give up to 7,000 yen per share.

Read More: Tokyo stocks rally on cheaper yen, robust Wall Street

Toyota declined 1.37 percent to 2,126.5 yen, Sony fell 1.10 percent to 11,245 yen, and Nintendo dropped 0.76 percent to 57,240 yen.

Shionogi Pharmaceuticals fell 5.57 percent to 6,408 yen following a report claiming a health ministry expert group believes it will take some time to approve its Covid-19 tablet.