Nikkei set to rise on weak yen; caution over G20 meet

Thu Apr 18, 2013 7:25pm EDT

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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