Nikkei set to rise to two-week high; Fed stimulus concern eases
TOKYO, June 28 (Reuters) - Japan's Nikkei share average is expected to hit a two-week high on Friday, as Wall Street rises on a tide of optimism that the Federal Reserve will not rapidly rein in its stimulus measures and with a weaker yen likely to lift exporters. Market players said the Nikkei was likely to trade between 13,300 to 13,500 after rising 3 percent to 13,213.55 on the previous day. Nikkei futures in Chicago closed at 13,395, up 0.9 percent from the close in Osaka of 13,270. Analysts said the market would see early buying which would lift the index above the 13,500-mark for the first time since June 11, even though volume may be subdued in the absence of firm catalysts. "Buying may be contained in short-covering," said Mitsushige Akino, chief fund manager at Ichiyoshi Asset Management. "The market wants to see April-June results, and investors want to see the results of the upper house election to trade proactively." Overseas headwinds such as worries about the U.S. Fed's plan to trim its stimulus and fears for the stability of the Chinese banking system are easing, so the Nikkei may stay positive for the time being, he said. Exporters are expected to attract buyers as the dollar is comfortably trading above 98 yen. On Thursday, U.S. stocks rose after three Fed policymakers sought to downplay the notion that the central bank would bring an imminent end to its bond-buying programme. > Wall St rallies for third day as Fed concerns fade > Dollar dips vs euro as Fed officials dampen 'taper' talk > Prices gain after 7-year debt sale > Gold sinks below $1,200 for first time in nearly 3 years > Oil rises amid talk Fed will continue stimulus for now
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.