Most Japanese stocks fell as investors watch earnings results from more than 110 companies on the Topix index reporting Wednesday.
The Topix lost 0.1 percent to 1,658.10 as of 9:01 a.m. in Tokyo, with four stocks falling for every three that rose. The Nikkei 225 Stock Average was little changed at 20,512.04. The yen traded at 124.32 per dollar after weakening 0.3 percent on Tuesday
Of the companies in the Topix that have reported quarterly results this season and for which estimates are available, 62 percent exceeded profit expectations, an improvement from the 48 percent that beat forecasts in the previous quarter, according to data compiled by Bloomberg.
E-mini futures on the Standard & Poor’s 500 Index rose less than 0.1 percent after the underlying measure lost 0.2 percent on Tuesday in New York.
U.S. factory orders rose 1.8 percent in June from the month before, in line with forecasts from economists surveyed by Bloomberg, and rebounding from two months of declines, data showed Tuesday. Reports on the services industries and monthly payrolls are due later this week, giving investors a gauge on the strength of the economy.
Source : Bloomberg