Nikkei set to rise on weak yen; caution over G20 meet
TOKYO, April 19 (Reuters) - Japan's Nikkei share average is set to rise on Friday as the downward trend in the yen offsets negative sentiment from Wall Street, but gains may be capped as investors look for direction from a meeting of the Group of 20 countries. Market players said the Nikkei was likely to trade between 13,150 to 13,350 after ending down 1.2 percent at 13,220.07 on the previous day. Nikkei futures in Chicago closed at 13,275, up 0.04 percent from the close in Osaka of 13,270. The yen slipped against the dollar in a sign that investors expect little criticism of Japan's monetary easing from the G20 meeting that began on Thursday. "If all goes well with Japan not facing criticism of its aggressive monetary policy by its international partners, the yen may weaken further and large-cap stocks may be bought," said Yoshiyuki Kondo, an analyst at Daiwa Securities. "For the time being there is still uncertainty so it is difficult to buy large-cap stocks but small shares are being bought." He cited Internet-related shares such as CyberAgent Inc and Colopl Inc, which have attracted buying ahead of global cyclical stocks. The dollar last traded at 98.31 yen, and if the yen weakens further to the dollar, the Nikkei may recover its 5-day moving average of 13,317.04, analysts said. > Wall St falls further, bearish signals mount > Euro gains vs U.S. dollar; yen drops as G20 meets > TIPS prices fall as inflation not a concern > Gold up in roller-coaster trade, sentiment stays uneasy > Oil rises after 6-day sell-off, market seen over-sold STOCKS TO WATCH --Toshiba Corp Toshiba and SunEdison, a unit of U.S.-based MEMC Electronic Materials Inc, have agreed to build solar power plants in Japan, the Nikkei said. --Softbank Corp Dish Network Corp is asking U.S. regulators to suspend the review of the proposed acquisition of Sprint Nextel Corp to Softbank, saying its own counter-bid would be preferable for U.S. national security reasons. --Sharp Corp Sharp will supply energy-saving, high-performance LCD panels for Samsung Electronics Co Ltd's notebook computers as early as summer, the Nikkei reported.
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