Nikkei flat as firm yen, pre-BOJ worries weigh; drugmakers outperform

lunes 12 de septiembre de 2016 22:53 GYT
 

* Exporters mixed as all eyes on BOJ meeting next week

* Speculation on possible BOJ actions may cause volatility - analyst

* Pharma stocks outperform

By Ayai Tomisawa

TOKYO, Sept 13 (Reuters) - Japanese stocks were flat Tuesday morning, unable to build on small opening gains after sliding to two-week lows the previous day as a solid yen sapped risk appetite.

The Nikkei opened slightly higher on the back of Wall Street's rally overnight, but pulled back to be flat at 16,676.74 in midmorning trade. On Monday, the benchmark index slumped 1.7 percent to its lowest since Aug. 26.

The bounce in the U.S. share market was spurred by Federal comments from Reserve Board Governor Lael Brainard, who stuck to her dovish stance on interest rates and urged caution about removing monetary stimulus too quickly.

Investors, however, remained cautious about investing in Japanese equities as a relatively stronger yen has raised concerns about exporters' earnings. The dollar was last around 101.66 yen from Monday's high of 102.82 yen.

The focus remains on next week's Bank Of Japan's policy review, which coincides with the Fed's. The BOJ is expected to announce the outcome of its comprehensive review of its policy.   Continuación...