Nikkei seen trapped in range, global growth a concern
TOKYO, Sept 24 (Reuters) - Japan's Nikkei share average is expected to held in a narrow range on Monday, tracking U.S. stock performance with investors still worried about global growth even though major central banks have launched further stimulus measures to bolster their economies. Some analysts have worried that a new round of stimulus from the Federal Reserve may suggest that the U.S. economy is in worse shape than many had feared. The Nikkei was likely to trade between 9,000 and 9,150, strategists said, after gaining 0.3 percent to 9,110.00 on Friday. The broader Topix index rose 0.3 percent to 756.38. Nikkei futures in Chicago closed at 9,035 on Friday, down 0.3 percent from the Osaka close of 9,060. "Stocks will move in a range today, as investors focus on global growth, with Europe's ongoing problems still in focus," said Hiroichi Nishi, equity general manager at SMBC Nikko Securities. U.S. stocks closed flat on Friday even though investors welcomed Spain's efforts to seek a bailout and cheered Apple Inc's newest iPhone that went on sale, driving its shares to a record high. "The yen has strengthened somewhat from its recent lows, which will weigh on some share and cap the upside." The yen was traded at 78.11 yen to the dollar on Monday, up from Friday's low of 78.379. The Nikkei is up 7.7 percent so far this year, underperforming a 16.1 percent rise in the U.S. S&P 500 and a 12.8 percent gain in the pan-European STOXX Europe 600 index. > Wall St ends flat despite Spain hope, S&P off for week > Euro gains vs dollar on Spain optimism > Long-dated Treasuries slip on Spain talk > Gold holds gains after early rally toward 2012 high > Oil rises for second day as supply concerns mount STOCKS TO WATCH --RENESAS ELECTRONICS CORP A Japanese government fund as part of a consortium including Toyota Motor Corp is considering a bailout of Renesas, countering a 100 billion yen ($1.3 billion)bid for the chip maker by private equity firm KKR, two sources said on Saturday. --SHARP CORP Japan's cash-strapped Sharp Corp is in talks to supply liquid crystal display panels for ultra-thin laptops that typically use chips and processors made by Intel Corp, sources familiar with the matter said. --TOYOTA MOTOR CORP Toyota Motor Corp will resume operations on Monday at all nine of its plants in China, a spokesman said, after the company suspended operations at some factories in response to anti-Japan demonstrations. --ALL NIPPON AIRWAYS All Nippon Airways said on Friday it would buy 11 additional Boeing 787-9 Dreamliner aircraft for about 254.7 billion yen ($3.3 billion).
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