Tokyo stocks open flat

Tokyo stock prices opened flat on Friday in the absence of fresh trading cues. The Nikkei 225 index at the Tokyo Stock Exchange was up 0.02 percent, or 1.98 points, at 9,547.14. The benchmark index was likely to trade in a relatively narrow range, after European and US bourses rose Thursday while the yen also rose slightly against its major rivals, analysts said. "There is not a preponderance of trading catalysts, but with the weekend coming up position-squaring should cap gains," said SMBC Nikko Securities general manager of equities Hiroichi Nishi. The market's downside also looks limited at current price levels, he told Dow Jones Newswires. The euro plunged Thursday after the European Central Bank's sharp cut in its eurozone growth forecast for next year and on the ECB revealing that a decision to leave its key rate unchanged was not unanimous. The euro bought $1.2966 and 106.86 yen in early Asian trade, hardly changed from New York Thursday afternoon. The dollar was also flat at 82.42 yen. US stocks finished in positive territory Thursday after circling the breakeven line for much of the session, with a mild rebound by volatile Apple buoying the tech-heavy Nasdaq for a 0.5 percent gain. The Dow Jones Industrial Average closed up 0.30 percent at 13,074.04.