Tokyo stocks flat on U.S. recession fears, rate-hike pause hopes

Tokyo stocks were almost flat Thursday morning, as concern about a U.S. recession triggered by the banking crisis was offset by hopes for a sooner-than-expected pause in interest rate hikes by the Federal Reserve.

The 225-issue Nikkei Stock Average rose 25.97 points, or 0.09 percent, from Wednesday to 28,108.67. The broader Topix index was down 0.87 point, or 0.04 percent, at 2,006.05.

Gainers were led by warehousing and harbor transportation service, and retail shares. Decliners included securities house, and iron and steel issues.