TOKYO, Feb. 20 (Xinhua) -- Japan's benchmark Nikkei stock index closed fractionally higher Monday as investors eyed upcoming events, including parliamentary speeches by incoming Bank of Japan governor nominee Kazuo Ueda and his team.
The 225-issue Nikkei Stock Average edged up 18.81 points, or 0.07 percent, from Friday to close the day at 27,531.94.
The broader Topix index, meanwhile, added 7.78 points, or 0.39 percent, to finish at 1,999.71.
Local brokers said Wall Street losing ground late last week dampened investor sentiment and saw large-capped issues pressured, which weighed on the broader market.
They also added that investors refrained from making bold moves ahead of the release of the U.S. Federal Open Market Committee's previous meeting minutes.
The Fed's minutes, scheduled to be released on Wednesday, will be poured over for potential clues as to the future course of the central bank's monetary policy, market strategists said, adding that remarks thereafter by Fed officials could also sway the market's tone.
"Aside from the FOMC minutes, Fed watchers will be exploring the degree of hawkishness in speeches by its senior officials also scheduled this week," Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management Co., was quoted as saying.
Some investors also took a passive stance ahead of BOJ Governor nominee Ueda's lower house testimony on Friday, to be followed by his appearance on Monday in Japan's upper house of parliament, analysts here highlighted.
Large-capped issues lost ground following the Nasdaq's decline, with chip-manufacturing equipment maker Tokyo Electron falling 1.5 percent, while Sony Group shed 0.3 percent.
Tire maker Yokohama Rubber, bucked the downward trend surging 10.2 percent, while financial issues were buoyed by rising government bond yields.
Among these, megabank Mitsubishi UFJ Financial Group added 1.8 percent, while Sompo Holdings climbed 2.7 percent.
By the close of play, pulp and paper, rubber products, and securities houses comprised issues that gained the most.
Mining, electric appliance, and precision instrument-linked issues led notable decliners, meanwhile.
The turnover on the first trading day of the week came to 2,292.57 billion yen (17.08 billion U.S. dollars). ■