Nikkei seen range-bound, eyes on yen, Toyota

TOKYO, Sept 30 (Reuters) - Japan's Nikkei average is likely
to move narrowly on Wednesday, with some selling pressure likely
to come after a surprise drop in U.S. consumer confidence,
although a halt in the yen's advance against the dollar may
provide support.

Toyota Motor Corp (7203.T) will be in focus after the
automaker said it will recall some 3.8 million vehicles because
of the risk that a loose floormat could force down the
accelerator, a problem suspected of causing crashes that killed
five people. [ID:nN29538909]

"The market may start a bit lower after a slight fall in U.S.
stocks, though the dollar/yen is stabilising around 90 yen," said
Yutaka Miura, a senior technical analyst at Mizuho Securities.

"Trade will likely be range-bound as a whole, however, with
moves seen driven by trade in stocks futures as there are no
particular sectors in focus for investors."

Nikkei futures traded in Chicago 2NKc1 ended Tuesday at
10,115, almost unchanged from the Osaka close JNIc1.

The benchmark Nikkei is likely to move between 10,000 and
10,200 on Wednesday, market participants said. It rose 0.9
percent the previous day to end at 10,100.20.

The yen stood around 90.15 yen JPY= to the dollar in early
Asia trade, after hitting an eight-month high against the
greenback at 88.23 yen on Monday.

Many Japanese exporters have set their exchange rate
assumptions for the dollar around 90-95 yen for the current
fiscal year to March.

On Tuesday, the Standard & Poor's 500 Index .SPX shed 0.2
percent as Conference Board's Consumer Confidence Index for
September fell, underscoring concerns about personal finances
amid the worst job market in 26 years. [.N] [ID:nN29136250]
----------------------MARKET SNAPSHOT @ 2303 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1060.61 -0.22% -2.370
USD/JPY JPY= 90.04 -0.09% -0.080
10-YR US TSY YLD US10YT=RR 3.2925 -- 0.000
SPOT GOLD XAU= 992.9 0.22% 2.200
US CRUDE CLc1 66.63 -0.12% -0.080
DOW JONES .DJI 9742.20 -0.48% -47.16
-------------------------------------------------------------
> Confidence data hits market; Nike rises late [.N]
> Dollar rebounds from 8-month low vs yen, euro slips [USD/]
> Mixed data keeps long bonds in favour [US/]
> Gold rises slightly, near-term weakness seen [GOL/]
> Oil falls, U.S. consumer confidence, demand weigh [O/R]
STOCKS TO WATCH

-- Toshiba (6502.T)

A source told Reuters on Monday French nuclear reactor maker
Areva (CEPFi.PA) had accepted initial offers from Toshiba
(6502.T), General Electric (GE.N) and a joint bid from French
groups Alstom (ALSO.PA) and Schneider Electric (SCHN.PA) for its
transmission and distribution business.

-- Panasonic Corp (6752.T)

Panasonic on Tuesday gained approval from European Union
antitrust regulators to acquire rival Sanyo Electric Co Ltd
(6764.T) on condition it sheds some units. [ID:nLT653034]

-- Nippon Oil Corp (5001.T), Kyocera Corp (6971.T)

Nippon Oil and Kyocera have agreed to jointly develop
next-generation fuel cells for powering homes, with the first
units to go on sale in Japan in fiscal 2011, the Nikkei business
daily said on Wednesday.

-- Sapporo Holdings Ltd (2501.T)

Japanese brewery Sapporo Holdings Ltd said it would buy a
21.65 percent stake in unlisted beverage maker Pokka from private
equity firm Advantage Partners and other investors.
[ID:nTFA006453]

--Izumiya Co (8266.T)

The supermarket operator cut its full-year forecast and said
it now expects to post a net loss, hurt by sharp fall in sales
and special losses in connection with closure of unprofitable
stores.

The company said it expects a 5.3 billion yen net loss for
the year ending in February, in a sharp swing from a 1 billion
yen profit in the previous estimate.
(Reporting by Aiko Hayashi; Editing by Edwina Gibbs)