An electronic stock board shows Japan's benchmark Nikkei 225 at a conference hall in Tokyo, on Oct. 27, 2021. (AP Photo/Koji Sasahara)

       TOKYO (Kyodo) -- Tokyo stocks ended flat Wednesday, trimming earlier losses as investors awaited earnings reports from major Japanese firms and a general election later this week.

       The 225-issue Nikkei Stock Average ended down 7.77 points, or 0.03 percent, from Tuesday at 29,098.24. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 4.59 points, or 0.23 percent, lower at 2,013.81.

       Decliners were led by marine transportation and air transportation issues, while transportation equipment and food issues led gainers.

       The U.S. dollar hovered around the 114 yen line throughout Tokyo trading as traders retreated to the sidelines before the results of central bank policy meetings in Japan and Europe this week.

       At 5 p.m., the dollar fetched 113.73-75 yen compared with 114.09-19 yen in New York and 114.04-05 yen in Tokyo at 5 p.m. Tuesday.

       The euro was quoted at $1.1605-1606 and 131.99-132.03 yen against $1.1591-1601 and 132.35-45 yen in New York and $1.1597-1599 and 132.26-30 yen in Tokyo late Tuesday afternoon.

       The yield on the benchmark 10-year Japanese government bond fell 0.005 percentage point from Tuesday's close to 0.095 percent as the safe-haven debt was bought on lower Tokyo stocks. Bond yields move inversely to prices.

       Shares fell in the morning as investors locked in gains after the benchmark Nikkei index ended up more than 500 points the previous day, led by some Nikkei heavyweights, semiconductor and electric appliance issues.

       Once the initial selling ran out of steam, shares trimmed some losses and moved in a tight range in the afternoon.

       Investors refrained from making bold moves before the release this week of quarterly earnings by domestic companies amid concerns about the negative impact of higher fuel and raw materials prices, brokers said.

       The market is also watching closely how the ruling Liberal Democratic Party will fare in Sunday's general election as uncertainty grew after the LDP lost one of two House of Councillors by-elections last weekend, brokers said.

       "Investors were reluctant to make bets ahead of the election results as uncertainty about the outcome has heightened" after the by-election, said Makoto Sengoku, senior equity market analyst at the Tokai Tokyo Research Institute.

       A recent poll showed the LDP might lose seats in the House of Representatives in the election but retain a comfortable majority together with its coalition partner Komeito, an outcome that many brokers said could give relief to stock markets.

       Meanwhile, the market was little affected by the announcement by Tokyo Stock Exchange Inc. that it will extend its regular trading hours by 30 minutes to make the bourse more competitive internationally, brokers said.

       On the First Section, declining issues outnumbered advancers 1,391 to 698, while 95 ended unchanged.

       Among Nikkei heavyweights and electronics makers, SoftBank Group sagged 219 yen, or 3.4 percent, to 6,281 yen while ceramic electronic components maker Taiyo Yuden dropped 60 yen, or 1.1 percent, to 5,560 yen.

       Canon tumbled 160.5 yen, or 5.9 percent, to 2,566.5 yen after the digital camera and office equipment maker cut its operating profit forecast for its business year through December.

       Nidec slid 365 yen, or 2.9 percent, to 12,225 yen after its net profit forecast for the fiscal year through March fell short of market expectations.

       Trading volume on the main section slightly rose to 1,144.11 million shares from Tuesday's 1,141.96 million shares.

       Font Size S M L Print Timeline 0