TOKYO: Japan's Nikkei is expected to inch up on Monday, April 18 helped by gains on Wall Street at the end of last week, while commodity shares are likely to outperform due to higher gold and oil prices.
Analysts said that U.S. corporate earnings such as Intel Corp'' as well as news related to Japanese manufacturers' earnings starting late this month will likely set the tone in the market this week.
Tokyo stocks have regained around two-thirds of the losses they suffered after the devastating earthquake on March 11. But trade has turned more volatile and thinned out ahead of earnings reports that may pose more questions than give answers, as many firms will likely not give forecasts for this business year.
"We already know that last fiscal year's results were not good. The market is likely to be sensitive on announcements related to this fiscal year," said Yutaka Miura, a senior technical analyst at Mizuho Securities.
For Monday, mining stocks and oil shares are expected to outperform the market, as gold rose 1 percent to a record on Friday and oil gained with Brent crude surging past $123 a barrel, as improving U.S. consumer confidence and industrial production eased concerns on climbing fuel costs.
Nikkei futures in Chicago <2NKc1> pointed to a slightly higher open at 9,590, up 30 points from the Osaka close of 9,560.
The benchmark Nikkei average ended down 0.7 percent, or 62.40 points, at 9,591.52 on Friday -- dipping below the'' settlement of April options prices last week at 9,612.51. The broader Topix shed 0.6 percent to 841.29.
Analysts said the Nikkei may trade between 9,500 and 9,750 on Monday. - Reuters
Analysts said that U.S. corporate earnings such as Intel Corp'' as well as news related to Japanese manufacturers' earnings starting late this month will likely set the tone in the market this week.
Tokyo stocks have regained around two-thirds of the losses they suffered after the devastating earthquake on March 11. But trade has turned more volatile and thinned out ahead of earnings reports that may pose more questions than give answers, as many firms will likely not give forecasts for this business year.
"We already know that last fiscal year's results were not good. The market is likely to be sensitive on announcements related to this fiscal year," said Yutaka Miura, a senior technical analyst at Mizuho Securities.
For Monday, mining stocks and oil shares are expected to outperform the market, as gold rose 1 percent to a record on Friday and oil gained with Brent crude surging past $123 a barrel, as improving U.S. consumer confidence and industrial production eased concerns on climbing fuel costs.
Nikkei futures in Chicago <2NKc1> pointed to a slightly higher open at 9,590, up 30 points from the Osaka close
The benchmark Nikkei average ended down 0.7 percent, or 62.40 points, at 9,591.52 on Friday -- dipping below the'' settlement of April options prices last week at 9,612.51. The broader Topix shed 0.6 percent to 841.29.
Analysts said the Nikkei may trade between 9,500 and 9,750 on Monday. - Reuters
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