Tokyo stocks flat at break

Tokyo

 Tokyo stocks were flat by the break on Tuesday after a seven-day winning streak took the benchmark index to 15-year highs.

 The Nikkei 225 index at the Tokyo Stock Exchange was up 2.48 points at 20,416.25, while the Topix index of all first-section issues dipped 0.52 points, or 0.03 percent, to 1,658.63.

 "I still see the Japanese market as vulnerable to a correction but it continues to be a market you want to buy on the dips," said Nader Naeimi, Sydney-based head of dynamic asset allocation at AMP Capital Investors.

 "You have very strong liquidity support, you have strong momentum in earnings growth and economic indicators, and valuations are not too demanding," he told Bloomberg News.

 Japanese stocks have continued pushing new multi-year highs in recent weeks, backed by a lower yen, positive expectations for Japanese corporate earnings and the Bank of Japan's ultra-loose monetary policy. 

 The dollar edged up to 121.71 yen in Tokyo trade from 121.66 yen on Monday.

 Japan Tobacco was down 0.05 percent at 4,698 yen after rising in the previous session on news that it would sell its vending machine businesses to beverages maker Suntory, which lost 0.77 percent to 5,120 yen.

 Japan Airlines rose 3.66 percent to 4,245 yen while ANA Holdings gained 0.66 percent to 331.1 yen.

 Many markets around Europe and in New York were closed Monday for public holidays.

 Investors are watching closely for any new developments in talks between Greece and its international creditors over unlocking bailout funds, with no deal in sight and 300 million euros of payment due next week.