Summary "Today's Tokyo stock market could struggle to find direction."
TOKYO (AFP) - Tokyo s Nikkei 225 ended the morning session 0.11 percent higher Tuesday, rebounding slightly after sharp losses in the previous session as investors brace for an expected Greek default later in the day.
The benchmark index at the Tokyo Stock Exchange -- which sank 2.88 percent on Monday -- edged up 23.05 points to 20,133.00 by the break, but the Topix index of all first-section issues dipped 0.17 percent, or 2.80 points, to 1,622.02.
"We re already in oversold territory and it s hard to imagine us taking another leg lower from here, but until we see the results of the Greek referendum, the lingering uncertainty means investors will stay out," Toyo Securities strategist Ryuta Otsuka told Bloomberg News.
"Today s Tokyo stock market could struggle to find direction."
Global stocks slumped Monday after Greece s Prime Minister Alexis Tsipras broke off bailout reform talks at the weekend and called for a July 5 referendum on austerity conditions demanded by its creditors.
The move means Athens is unlikely to agree a deal to unlock bailout funds to repay an IMF debt by the end of Tuesday, putting it in default and in danger of crashing out of the eurozone.
"(How) is it possible the creditors are waiting for the IMF payment while our banks are being suffocated?" Tsipras asked in a television interview. "Once they decide to stop the suffocation, they will be paid," he added.
Global markets plunged, with the S&P 500 on Wall Street diving 2.09 percent, its steepest loss of 2015.
Frankfurt s DAX 30 lost 3.56 percent, and the CAC 40 in Paris shed 3.74 percent.
However, the euro ended Monday higher and edged lower in Asia Tuesday. It bought $1.1195 and 137.02 yen in Asia, against $1.1247 and 137.82 yen in New York.
The dollar slipped to 122.27 yen from 122.55 yen.
In Tokyo morning trading, banks were down with Mitsubishi UFJ Financial Group dropping 2.16 percent to 866.6 yen and Mizuho Financial Group falling 1.73 percent to 260.5 yen.
Canon rose 0.05 percent to 3,967 yen while Fast Retailing, operator of the Uniqlo clothing chain, gained 0.53 percent to 54,850 yen.
