Tokyo, Japan (BBN)-Asian shares were largely flat in Wednesday trading, with investors cautious after sharp falls in US and European markets overnight.
In Japan, the benchmark Nikkei 225 is up by 0.3 per cent at 15,777 during midday, reports BBC.
While in South Korea, the Kospi is higher by 0.4 per cent at 1,970.
In Australia, the benchmark S&P/ASX 200 ticked up 30 points to 4,954.
US stocks ended lower on Tuesday, due to both profit-taking and fears over first quarter corporate earnings.
Analysts are expecting US firms to reveal lower earnings for the quarter ended in March.
Elsewhere in Asia, the benchmark Hang Seng index in Hong Kong edged up 50 points to 20,226.
In China the Shanghai Composite index edged up 3 points to 3,055.07.
The US dollar fell below 110 Japanese yen overnight, for the first time in 17 months.
The dip in the dollar is partly due to expectations that the US central bank – the Federal Reserve – will not be increasing interest rates as aggressively as market-watchers had been anticipating.
Meanwhile, a strong yen is a liability for Japanese exporters. It also makes it difficult for the Japanese government to shore up its flagging economy.
Japan’s central bank adopted a negative interest rate policy earlier this year. But so far that has had little effect on weakening the yen.
Japan will host the G7 meeting in May, and that will provide an opportunity for finance ministers from the world’s biggest economies to discuss the best ways to manage their currency policies.