TOKYO - Japanese shares traded in a narrow range Monday as dip-buying provided support for the market following the latest weak US jobs data, analysts said.
The headline Nikkei index at the Tokyo Stock Exchange lost 0.11 percent, or 11.09 points, to end at 10,167.23. The Topix index of all first section shares added 0.25 percent, or 2.19 points, to reach 881.41.
A firmer yen as well as disappointing US jobs data released Friday weighed on the market, prompting some investors to take profits, particularly by selling shares of exporter firms that are hurt by a stronger currency.
But Wall Street shares' positive finish on Friday, despite the jobs report, encouraged investors.
Some players cast doubt on the accuracy of the jobs data, which said the world's top economy created only 39,000 new jobs last month, compared with a forecast by economists of 130,000, analysts said.
"The data are not leading to an assessment that US employment conditions are indeed extremely sour," Kenichi Hirano, operating officer at Tachibana Securities, told Dow Jones Newswires.
But a firmer yen, which stood at 82.82 to the dollar Monday against 83.66 in Friday Tokyo trading, depressed exporter shares.
"Investors are taking profits in exporters while funds flow to laggard shares" such as steel, Mizuho Investors Securities senior strategist Masatoshi Sato told Dow Jones.
Canon fell 0.97 percent to 4,070. Panasonic dropped 1.16 percent to 1,191.
Toshiba lost 0.45 percent to 441. Sony shed earlier losses and ended flat at 3,020.
Toyota Motor was unchanged at 3,275. Honda Motor gave up 0.63 percent to 3,135.
Industry leader Nippon Steel added 1.77 percent to 287. Second-ranked steelmaker JFE Holdings gained 2.13 percent to 2,730.
