Nikkei seen rising after G20 avoids criticising Japan's reflationary policies
TOKYO, April 22 (Reuters) - The Nikkei share average is set to rise on Monday, with exporters and reflationary stocks likely taking the lead as the yen softened broadly after the Group of 20 nations stopped short of criticising Japan's radical monetary expansionary policies. Market players said the Nikkei was likely to trade between 13,400 to 13,700 on Monday, and may surpass the near five-year high of 13,568 levels set on April 12. Nikkei futures in Chicago closed at 13,600, up 1.7 percent from the close in Osaka of 13,370. "Japan has escaped from direct criticism from G20 on its monetary policies. Now, the big thing that everyone is waiting for is the yen to fall to 100 per dollar. Not much else would matter," said Toshiyuki Kanayama, senior market analyst at Monex Inc. The yen was trading at 99.83 to the dollar, within striking distance of a four-year high of 99.95 set on April 11. In a communique after a two-day meeting, the G20 simply said it would be "mindful" of possible side effects from extended periods of monetary stimulus, without singling out Japan as some in the markets had feared. Finance Minister Taro Aso said Japan's radical economic policies have led to a cheaper yen but only as a by-product of stimulus steps to pull the country out of deflation. The benchmark Nikkei gained 0.7 percent to close at 13,316.48 on Friday, while the broader Topix added 0.3 percent to 1,126.67. > Wall St gets tech lift in S&P's worst week since November > US dollar, euro soar vs yen as G20 skirts Japan critique > Prices dip as investors buy stocks; eyes on Boston > Gold posts 5 pct weekly loss, outlook seen volatile > Oil rises slightly in a second straight day of gains STOCKS TO WATCH --GS YUASA CORP, ALL NIPPON AIRWAYS, JAPAN AIRLINES U.S. regulators approved on Friday a revamped battery system for Boeing Co's 787 Dreamliner, a crucial step in returning the high-tech jet to service after it was grounded in January because its lithium-ion batteries overheated. GS Yuasa makes lithium batteries for the grounded Dreamliner and ANA and JAL are customers for the passenger jet. --KAWASAKI HEAVY INDUSTRIES, MITSUI ENGINEERING AND SHIPBUILDING CO Kawasaki Heavy Industries and Mitsui Engineering and Shipbuilding are set to begin talks on a merger that would create Japan's second-biggest heavy machinery company by sales, the Nikkei newspaper reported on Monday. --BANKS Japan's banking titans are hiring Spanish-speaking bankers to win new business in Latin America and handing out loans to junk-grade borrowers in the United States as they probe deeper overseas to fight meagre returns at home. --TOYOTA MOTOR CORP Toyota is giving its Vios and Yaris models a major makeover for China as part of the Japanese group's make-or-break move into the no-frills entry-level segment of the world's biggest autos market.
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