Tokyo stocks opened lower on Tuesday in cautious trade, with a dearth of market-moving clues as US bourses were closed for a public holiday.
The benchmark Nikkei 225 index was down 0.13 percent, or 36.27 points, at 27,495.67 in early trade, while the broader Topix index lost 0.07 percent, or 1.40 points, to 1,998.31.
“Japanese shares are expected to start in a narrow range as there are few clues after the US market’s close” for a Presidents’ Day holiday, Monex senior market analyst Toshiyuki Kanayama said in a note.
The dollar fetched 134.39 yen in Asian trade, up slightly from 134.07 yen late Monday in London, where the greenback gained against main rivals on the likelihood of more US rate hikes.
Looking ahead, investors are awaiting minutes from the US Federal Reserve’s last policy meeting for clues as to the size of further US interest rate hikes, analysts said.
Traders are also awaiting the purchasing managers indexes (PMIs) due later in the day, National Australia Bank economist Taylor Nugent said in a note.
The Eurozone and UK PMIs “are a gauge on whether the more positive view of Europe avoiding a recession holds,” he said.
In Tokyo, Sony Group was down 0.26 percent at 11,410 yen, Toyota was off 0.16 percent at 1,899.5 yen, and the Uniqlo operator Fast Retailing was down 0.83 percent at 81,980 yen.
But shipping firm Mitsui O.S.K. Lines was up 0.88 percent at 3,450 yen and construction machine maker Komatsu was up 0.51 percent at 3,324 yen.