Japan shares mixed on lack of cues, Greek deal

Feb 13, 2012, 3:00 GMT

Tokyo - Japanese stocks were mixed Monday morning after Greece's parliament passed a crucial austerity and debt relief bill, but investors were sitting on the sidelines due to lack of cues in the domestic market.

The benchmark Nikkei 225 Stock Average gained 16.31 points, or 0.18 per cent, to trade at 8,963.48 at the end of the morning session at 11:30 am (0230 GMT).

The broader Topix index was down 0.18 points, or 0.02 per cent, at 778.89.

Japan's economy shrank at an annualized pace of 2.3 per cent in the October-December quarter, caused by the temporary effects of massive flooding in Thailand, the government said.

Exports dropped 3.1 per cent from the previous quarter as the flooding in Thailand in late 2011 disrupted Japanese manufacturers' production, the Cabinet Office said in a preliminary report.

The contraction had little impact on the market as it was within expectations, traders said.

On currency markets at 11:30 am, the dollar traded at 77.58-60 yen, down from Friday's 5 pm quote of 77.69-70 yen.

The euro was quoted at 102.69-72 yen, down from 102.96-103.00 yen late Friday, and at 1.3236-3238 dollars, down from 1.3254-3256 dollars.