TOKYO, April 18 Japan's Nikkei share average is
expected to open lower on Thursday as buyers are likely to be
sidelined by weak global equity markets and worries about global
Market players said the Nikkei was likely to trade between
13,200 to 13,350 after rising 1.2 percent to 13,382.89 on
Wednesday. Nikkei futures in Chicago closed at 13,270,
down 1.0 percent from the close in Osaka of 13,400.
Overnight, European shares fell to their lowest levels so
far this year on fresh concerns over the global economy.
Wall Street was hit by financials and a sharp drop in Apple
Inc shares on worries about slowing demand for its
products, which may trigger selling in Apple-related stocks in
Japan such as Sharp Corp, Murata Manufacturing Co
and Ibiden Co, market players said.
Investors are also likely to keep an eye on the weekend
meeting of officials from the Group of 20 nations.
While Japan isn't expected to face criticism for its
aggressive monetary expansion campaign that has weakened the
yen, analysts said that investors remain wary.
"Whether international leaders will agree that Japan's push
to reflate the economy with bold monetary policy will benefit
other countries is in focus," said Kenichi Hirano, a strategist
at Tachibana Securities. "The market will probably stay nervous
until the outcome."
He added that the Nikkei's short-term resistance level is
seen at its 5-day moving average of 13,382.86.
The Nikkei has gained over 50 percent since Prime Minister
Shinzo Abe called for sweeping fiscal and monetary expansionary
policies in November, sending the yen to four-year lows of close
to 100 to the dollar.
> Drop in Apple shares, weak profits drag Wall St lower
> Euro down on ECB rate cut talk; yen dips before G20
> Prices rise as stock slump spurs safety bid
> Gold up on physical buying but seen vulnerable
> Brent crude falls for 6th day as demand worries persist
STOCKS TO WATCH
KDDI's au mobile phone service is experiencing prolonged
communication troubles, with up to 2.88 million devices unable
to send or receive e-mail Tuesday and up to 1.27 million
affected Wednesday, the Nikkei reported.
Italian prosecutors took steps in Germany and Britain on
Wednesday to carry out the seizure of up to 1.95 billion euros
($2.6 billion) of assets from Nomura, which they say is needed
to halt further losses from Italy's Monte dei Paschi bank.