Nikkei flat as investors await US data

Greece and the eurozone is also weighing on investors’ sentiment.

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By :  ,  Financial Analyst

Japanese stocks ended flat today (January 7th), with investors awaiting key domestic and US economic data on Friday, amid ongoing worries over sliding oil prices and the sluggish global growth.

The Nikkei benchmark added 0.01 per cent to 16,885.33, and the broader Topix ended 0.1 per cent lower at 1,359.80, while the JPX-Nikkei Index 400 dropped 0.2 per cent to 12,308.20.

US crude futures extended losses around $48 (£32) a barrel, fuelling concerns of a global slowdown. 

Investors were still worrying about the future of Greece in the eurozone if anti-austerity party Syriza wins national elections later this month and carries out its pledge to tear up its bailout agreement with the EU.

Meanwhile, buying by the Bank of Japan and the government public pension fund, is supporting the sentiment, Masayuki Doshida, senior market analyst at Rakuten Securities Inc. told Reuters.

The central bank bought ¥71.5-billion (£398 million) worth of exchange-traded fund (ETFs) on Monday and yesterday.

Learn about the Asian markets and CFD trading at City Index.

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