Nikkei set to fall after U.S. jobs data disappoints
TOKYO, July 9 (Reuters) - Japan's Nikkei share average is expected to open lower on Monday after weaker-than-expected U.S. jobs data reinforced concerns that the global economy was weakening. The Nikkei was likely to trade between 8,900 and 9,050, strategists said, after Nikkei futures in Chicago closed at 8,995 on Friday, down 0.3 percent from the Osaka close. "I think today's market decline will be limited because last Friday the Nikkei had fallen on concerns over nonfarm payrolls. The nonfarm payrolls impact has been discounted. Therefore, the CME didn't drop so much," said Takashi Hiroki, chief strategist at Monex Inc. A trader said the Nikkei was likely to be supported by its 200-day moving average at 8,952.13. On Friday, the Nikkei fell 0.7 percent to 9,020.75, holding above 9,006.38, the 38.2 percent retracement of its fall from March 27 to June 4, while the broader Topix index slipped 0.6 percent to 771.83. The Nikkei has rallied nearly 10 percent since hitting a six-month low on June 4, and is up 6.7 percent so far this year. > Jobs selloff erases Wall St's gains for week > Euro falls to 2-year low vs U.S. dollar > Treasury prices advance on disappointing jobs data > Gold slides on deflation worry after U.S. jobs data > Oil falls as tepid U.S. jobs growth disappoints STOCKS TO WATCH --FAST RETAILING CO Fast Retailing lowered its full-year forecast below market estimates on Friday after a drop in sales at its Uniqlo casual-clothing chain in Japan, underscoring the need for Asia's biggest apparel retailer to step up its global expansion. --TOYOTA MOTOR CORP Toyota on Friday launched production of its revamped Lexus ES sedan, a flagship luxury car that represents a renewed bet the automaker can keep building cars for the United States and China at more costly factories in Japan. --NISSAN MOTOR CO Nissan's luxury brand Infiniti is bracing for a tough start in China, even as it opened a high-profile "flagship plus" store in Beijing and pledged to beef up its presence in China. --NTT DOCOMO NTT Docomo completed on Friday its takeover offer on Italian mobile content and apps provider Buongiorno in a deal worth 209 million euros.
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