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Tokyo stocks edge up at noon, Nikkei 225 adds 0.13pc

Tokyo stocks edge up at noon, Nikkei 225 adds 0.13pc

TOKYO: Tokyo stocks edged up Tuesday morning as investors await US Federal Reserve chief Janet Yellen’s Congressional testimony and Greece’s proposed reforms which are aimed at securing a critical bailout extension.

The Nikkei 225 index at the Tokyo Stock Exchange added 0.13 per cent, or 23.10 points, to 18,490.02 by the break, while the Topix index of all first-section issues slipped 0.03 per cent, or 0.43 points, to 1,502.40.

Investors were awaiting testimony by Fed Chair Janet Yellen and a review by creditors of a list of debt-reduction policies by Greece.

“Most investors are waiting for statements from the US financial authorities and the submission of Greece’s economic policies,” said Toshihiko Matsuno, chief strategist at SMBC Friend Securities in Tokyo.

“Most investors are waiting for statements from the US financial authorities and the submission of Greece’s economic policies,” said Toshihiko Matsuno, chief strategist at SMBC Friend Securities in Tokyo.

“I think the market will fluctuate. There’s some technical overheating” in Japanese stocks, he told Bloomberg News.