Tuesday, October 22, 2013
Nikkei Flat Ahead Of Release Of U.S. Jobs Data
TOKYO (NQN)--Tokyo stocks were nearly flat Tuesday morning, with the Nikkei Stock Average creeping 5.22 points, or 0.04%, higher to end the session at 14,698.79.
With yen-selling and dollar-buying increasing toward the morning close, Nikkei futures were intermittently purchased, erasing early losses on the Nikkei average. Arbitrage trading between futures and cash stocks lifted the market.
Investors sold stocks in early trade to adjust their positions ahead of the release of September jobs data in the U.S. later in the evening. That pushed the Nikkei Stock Average down nearly 50 points at one point.