The Tokyo stock market could remain in a corrective phase for some time.

Having hit a year-to-date high of 14,529.41 on May 7, the benchmark 225-issue Nikkei average has languished below 13,000 in recent weeks.

With worries lingering over U.S. economic and corporate earnings prospects, New York share prices remain at a depressed level, keeping the Tokyo market from staging a rebound.