Nikkei seen range-bound ahead of Fed

TOKYO, Nov 4 (Reuters) - The Nikkei average is likely to move
narrowly on Wednesday, with some stocks recovering ground after a
sell-off, but it may lack direction after U.S. stocks ended mixed
on caution before a Federal Reserve statement on interest rates
and the economy.

Toshiba Corp (6502.T) may draw attention after two people
familiar with the matter said the company plans to make a joint
bid with Abu Dhabi National Energy Co (Taqa) TAQA.AD for
Areva's (CEPFi.PA) power transmission and distribution business.
[ID:nT167634]

Japanese markets were closed on Tuesday for a national
holiday. The benchmark Nikkei .N225 slid 2.3 percent on Monday
to hit a three-week closing low, with exporters hit by a stronger
yen and weak U.S. consumer spending data.

"Investors will probably pick up stocks that were sold off
too much on Monday, with a fall in U.S. stocks appearing to have
halted for now," said Kenichi Hirano, operating officer at
Tachibana Securities.

"But the nervous mood in the market will likely continue as
the jobs situation and most importantly, consumer spending in the
United States has not recovered, though economic data and
corporate earnings are showing signs of a considerable recovery,"
Hirano said.

The Nikkei average is likely to move between 9,700 and 9,900
on Wednesday, market players said. It ended Monday at 9,802.95.

The S&P 500 and Nasdaq rose slightly on Tuesday as news of a
major railroad acquisition helped sentiment, but the Dow edged
lower on caution as the Federal Open Market Committee began a
two-day meeting that day.

While investors expect the Fed to leave rates close to zero,
they are nervous to hear what the officials say about the
economic outlook. [.N]

Japan's corporate earnings season continues this week.
Companies reporting later in the day include Nissan Motor Co
(7201.T) and Orix Corp (8591.T).
----------------------MARKET SNAPSHOT @ 2307 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1045.41 0.24% 2.530
USD/JPY JPY= 90.28 -0.02% -0.020
10-YR US TSY YLD US10YT=RR 3.4689 -- 0.000
SPOT GOLD XAU= 1083.1 -0.13% -1.400
US CRUDE CLc1 79.5 -0.13% -0.100
DOW JONES .DJI 9771.91 -0.18% -17.53
-------------------------------------------------------------
> S&P 500, Nasdaq end higher on deal news [.N]
> US dollar rises to 1-mo highs on banking worries [USD/]
> Prices dip as traders prepare for supply, Fed [US/]
> Gold sweeps to record high above $1,080 [GOL/]
> Oil rises 2 pct on U.S. factory data, gold surge [O/R]
STOCKS TO WATCH

-- Toyota Motor Corp (7203.T)

Toyota has lifted its global production plan for the year to
March 2010 to about 7 million vehicles from 6.2 million units
forecast in February, the Yomiuri newspaper reported on
Wednesday.

Toyota will also pull out of Formula One racing, the Mainichi
newspaper reported.

-- JVC Kenwood Holdings Inc (6632.T), Konami Corp (9766.T)

JVC Kenwood is in talks with Konami over a possible sale of
its music subsidiary Victor Entertainment Inc, the Yomiuri
newspaper said.

-- Suzuki Motor Corp (7269.T)

Suzuki quadrupled its annual operating profit forecast as
sales soared in its main Indian market, setting it apart from
other Japanese automakers that have depended heavily on the
sinking U.S. market. [ID:nT239507]

-- Fast Retailing (9983.T)

Sales at Fast Retailing's Uniqlo casual-clothing chain in
Japan surged 35.7 percent in October from a year earlier, the
biggest jump in over eight years, as consumers snapped up jackets
and other winter items. [ID:nT73789]

-- Daiwa Securities (8601.T)

Daiwa, Japan's second-largest brokerage, is seeking an
acquisition to help it grab more investment banking deals in the
rest of Asia, but the search won't be easy, its chief executive
said on Monday. [ID:nT128675]
(Reporting by Aiko Hayashi; Editing by Edwina Gibbs)