Japanese stocks swung between gains and losses, with the Topix index trading near a seven-year high, as increases by train companies countered declines by oil explorers.
Central Japan Railway Co. added 2.1 percent to be the biggest support on the Topix. Oil explorer Inpex Corp. sank 1.9 percent. Lixil Group Corp. dropped 1 percent after the maker of windows and other housing equipment announced a 120 billion yen ($1 billion) convertible bond sale. F@N Communications Inc. tumbled 13 percent after the Internet marketing company reported a slowdown in monthly sales.
The Topix was little changed at 1,459.84 at the trading break in Tokyo, having swung between a loss of 0.4 percent and a gain of 0.1 percent, after closing yesterday at the highest level since December 2007. The Nikkei 225 Stock Average slipped 0.2 percent to 17,961.19. The yen rose for a fourth day, trading at 118.38 per dollar and 134.30 per euro after European talks on Greece’s debt crisis ended in acrimony.