TOKYO, April 22 The Nikkei share average is set
to rise on Monday, with exporters and reflationary stocks likely
taking the lead as the yen softened broadly after the Group of
20 nations stopped short of criticising Japan's radical monetary
Market players said the Nikkei was likely to trade
between 13,400 to 13,700 on Monday, and may surpass the near
five-year high of 13,568 levels set on April 12. Nikkei futures
in Chicago closed at 13,600, up 1.7 percent from the
close in Osaka of 13,370.
"Japan has escaped from direct criticism from G20 on its
monetary policies. Now, the big thing that everyone is waiting
for is the yen to fall to 100 per dollar. Not much else would
matter," said Toshiyuki Kanayama, senior market analyst at Monex
The yen was trading at 99.83 to the dollar, within
striking distance of a four-year high of 99.95 set on April 11.
In a communique after a two-day meeting, the G20 simply said
it would be "mindful" of possible side effects from extended
periods of monetary stimulus, without singling out Japan as some
in the markets had feared.
Finance Minister Taro Aso said Japan's radical economic
policies have led to a cheaper yen but only as a by-product of
stimulus steps to pull the country out of deflation.
The benchmark Nikkei gained 0.7 percent to close at
13,316.48 on Friday, while the broader Topix added 0.3
percent to 1,126.67.
> Wall St gets tech lift in S&P's worst week since November
> US dollar, euro soar vs yen as G20 skirts Japan critique
> Prices dip as investors buy stocks; eyes on Boston
> Gold posts 5 pct weekly loss, outlook seen volatile
> Oil rises slightly in a second straight day of gains
STOCKS TO WATCH
--GS YUASA CORP, ALL NIPPON AIRWAYS, JAPAN
U.S. regulators approved on Friday a revamped battery system
for Boeing Co's 787 Dreamliner, a crucial step in
returning the high-tech jet to service after it was grounded in
January because its lithium-ion batteries overheated.
GS Yuasa makes lithium batteries for the grounded Dreamliner
and ANA and JAL are customers for the passenger jet.
--KAWASAKI HEAVY INDUSTRIES, MITSUI ENGINEERING AND
Kawasaki Heavy Industries and Mitsui Engineering and
Shipbuilding are set to begin talks on a merger that would
create Japan's second-biggest heavy machinery company by sales,
the Nikkei newspaper reported on Monday.
Japan's banking titans are hiring Spanish-speaking bankers
to win new business in Latin America and handing out loans to
junk-grade borrowers in the United States as they probe deeper
overseas to fight meagre returns at home.
--TOYOTA MOTOR CORP
Toyota is giving its Vios and Yaris models a major makeover
for China as part of the Japanese group's make-or-break move
into the no-frills entry-level segment of the world's biggest