TOKYO, Oct 13 (Reuters) - The Nikkei average is likely to
rise on Tuesday, with energy-linked shares such as Inpex (1605.T)
seen higher after a jump in oil prices, but gains may be limited
as investors wait to see corporate earnings reports in United
States and Japan.
Major companies including Intel Corp (INTC.O) are due to
report earnings later in the day. [SP500/WK] [RESF/US]
"Japanese stocks will likely maintain their upward momentum
after a solid performance in U.S. stocks and thanks to
stabilising moves in the currency market," said Kazuhiro
Takahashi, general manager at Daiwa Securities SMBC.
"But as investors are waiting to see earnings reports in the
United States and also here, the market will likely be
range-bound."
The benchmark Nikkei .N225 is likely to move between 9,950
and 10,150 on Tuesday, market participants said. Japanese markets
were closed on Monday for a national holiday.
The Nikkei gained 1.9 percent on Friday to end at 10,016.39,
its highest finish since Sept. 30. The index rose 2.9 percent on
the week, following a 5.2 percent drop the previous week.
The S&P 500 managed a sixth consecutive day of gains on
Monday to end at its closing high for the year as energy shares
rose alongside the price of oil. [.N]
Oil CLc1 jumped 2 percent on optimism about the pace of
global economic recovery and as cold weather across the United
States boosted fuel demand. [O/R]
The yen was steady around 89.75 yen to the dollar JPY= in
early Asia trade. Many Japanese exporters have set their exchange
rate assumptions for the dollar around 90-95 yen for the current
fiscal year to March.
----------------------MARKET SNAPSHOT @ 2301 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1076.19 0.44% 4.700
USD/JPY JPY= 89.69 -0.12% -0.110
10-YR US TSY YLD US10YT=RR 3.3914 -- 0.000
SPOT GOLD XAU= 1055.75 0.05% 0.500
US CRUDE CLc1 73.04 -0.31% -0.230
DOW JONES .DJI 9885.80 0.21% 20.86
-------------------------------------------------------------
> S&P logs 6th day of gains with earnings in view [.N]
> Dollar dips vs euro; investors eye U.S. earnings [USD/]
> Bonds tumble on Fed tightening fears [US/]
> Gold rises toward $1,060/oz as dollar retreats [GOL/]
> Oil jumps nearly 2 pct on optimism, colder US weather [O/R]
STOCKS TO WATCH
-- Tokyo Electron Ltd (8035.T)
Tokyo Electron said quarterly orders for its tools to make
semiconductors and flat panel displays recovered to near
year-earlier levels as logic and memory chip makers start
investing. [ID:nT144917]
-- Sumitomo Metal Mining (5713.T), metal stocks
Gold briefly rose within striking distance of an all-time
high above $1,060 an ounce on Monday as the dollar's weakness
increased the appeal of bullion as a hedge against falling
currencies. [GOL/]
(Reporting by Aiko Hayashi; Editing by Chris Gallagher)
