Tokyo stocks end morning with losses

TOKYO: Tokyo stocks slipped Friday morning as the yen ticked up against the dollar and profit-takers move in following recent gains.

The benchmark Nikkei 225 index eased 0.29 percent, or 58.12 points, to 20,289.36 by the break, while the broader Topix index was down 0.30 percent, or 5.05 points, at 1,663.69.

The Japanese currency has fallen against the dollar for much of the week, with the US Federal Reserve's policy meeting this week adding to the losses after it hinted at another interest rate hike by the end of the year.

But the Japanese currency bounced back on Friday as investors questioned whether the central bank will be able to hike rates again as it also starts to wind down its massive bond-buying stimulus programme.

The greenback sank to 111.69 yen, having topped out at 112.72 yen Thursday, dealing a blow to Japanese exporters.

Adding to the downward pressure was a shift to profit-taking after a four-day rally, while Wall Street also provided a negative lead with all three main indexes ending lower.

In Tokyo share trading Panasonic lost 0.79 percent to 629 yen but Sumitomo Mitsui Financial was up just 0.04 percent at 4,296 yen and Mizuho Financial rose 0.45 percent to 199.1 yen.