Nikkei ends flat on weak global cues

Japan’s Nikkei average gave up gains on Monday as investors snapped up profits on recent gainers,prompted by a slump in Chinese equities after China raised banks’ reserve requirement.

But the positive mood was largely intact as stronger earnings than expected at JPMorgan raised expectations for top US banks,many of which report this week,including Citigroup and Goldman Sachs.

The benchmark Nikkei ended the session up 3.82 points at 10,502.86.

Resistance for the benchmark looms at 10,620.57,an eight-month high hit last week,market players said. If that level is breached,the next target investors are eyeing is 10,638.23,a high hit in May last year.

The broader Topix index shed 0.2 per cent to 928.73.