Tokyo stocks inched higher in early trade today, with the upside weighed by a disappointing earnings forecast from US chip giant Intel.
The benchmark Nikkei index opened up 0.14% or 14.04 points at 10,019.94.
The Nikkei is likely to be negatively affected by Intel's somewhat disappointing sales forecast, Kazuhiro Takahashi, general manager of investment strategy and research at Daiwa Securities, told Dow Jones Newswires.
Intel's second quarter earnings exceeded expectations, but the firm slightly trimmed its forecast for PC shipments for the year.
"While the fall in PC sales is widely expected, the downward revision was still disappointing. The market will look towards other chipmakers such as Advanced Micro Devices to confirm the trend," Takahashi said.
Share prices hardly moved on positive Japanese trade data released shortly before the market's opening.
Japan posted a surprise trade surplus of $897 million in June, the finance ministry said, as nation recovers from the devastating impact of the March earthquake and tsunami.
It was the first black ink in three months, despite the market forecast for a deficit.
US stocks fell slightly on yesterday as investors waited for a resolution to the debt-ceiling standoff in Washington and digested a mixed bag of second-quarter earnings reports.
The Dow Jones Industrial Average shed 0.12% or 15.51 points to close at 12,571.91.
