TOKYO, Jan 15 Japan's Nikkei share average is
expected to open higher on Tuesday and may test the 11,000-mark,
a level not seen since late April 2010, as persistent weakness
in the yen boosts demand for exporters.
The Nikkei is likely to trade between 10,850 and
11,000, strategists said, while Nikkei futures in Chicago closed at 10,980 on Monday, up 1,4 percent from the
Osaka close of 10,830 on Friday. Monday was a holiday in
"During the Japanese long weekend, the overseas market
conditions were relatively good," said Takashi Hiroki, chief
strategist at Monex Inc. "There are good expectations of
"In addition, the yen depreciation is good for the Japanese
market," he said.
The yen was quoted at 89.47 to the dollar on Tuesday
after falling to a 2-1/2-year low of 89.67 in the previous
session, while the Japanese currency was traded at 119.76 to the
The Nikkei advanced 1.4 percent to 10,801.57 on Friday, and
was up 1.1 percent last week, its ninth straight week of gains
and longest weekly winning run since 1988. The broader Topix
index climbed 1.1 percent to 898.69.
The Nikkei has rallied nearly 25 percent over the past two
months, after Prime Minister Shinzo Abe called on the Bank of
Japan to adopt aggressive policy to energise the ailing economy,
including setting an inflation target of 2 percent.
But Sharp Corp and other Apple Inc
suppliers were likely to be in focus after the Nikkei newspaper
said on Monday the U.S. company had slashed orders with
suppliers of components for the iPhone 5 due to weak demand.
> Apple drags on S&P, Nasdaq; Dell jumps after report
> Euro at 11-month high vs dollar as euro-zone fears abate
> Treasuries edge up on Bernanke remarks
> Platinum hits 3-month high on supply worry, gold up
> Oil rises toward $112 on product strength, weak dollar
STOCKS TO WATCH
Apple Inc has almost halved its orders with
suppliers of LCD panels, including Japan Display Inc and Sharp,
for the iPhone 5 in the current quarter due to weak demand, the
Nikkei reported on Monday.
Softbank is in final talks to sell its stake in eAccess Ltd,
representing around 67 percent of voting rights, to Samsung
Electronics Co and 10 others, a source with direct
knowledge of the matter told Reuters.
The sales would ease concerns that Softbank could hold a
monopoly on spectrum allocation designated by Japan's
Communications Ministry, the source said.
--JAPAN AIRLINES CO
Japan Airlines said on Sunday that a Boeing Co 787
Dreamliner jet undergoing checks in Tokyo following a fuel leak
at Boston airport last week had leaked fuel during tests earlier
in the day.
--DAIICHI SANKYO CO LTD
ArQule Inc and Daiichi Sankyo said a mid-stage trial of
their colorectal cancer drug failed to meet the main study goal
of improving patient survival without the cancer getting worse.
--AEON CO LTD
Aeon posted a 5.5 percent fall in nine-month operating
profit as soft consumer demand and increased competition at its
general merchandise and grocery store dented revenues, but the
company maintained its annual profit forecast.
--HONDA MOTOR CO
Honda plans to cut around 800 jobs at its plant near Swindon
in south west England due to falling demand for its vehicles
around mainland Europe.
--DAI-ICHI LIFE INSURANCE
Sompo Japan Insurance, Dai-ichi Life Insurance, Zurich
and Allianz SE are among potential buyers
for Turkish bank Yapi Kredi's insurance arm, Yapi Kredi Sigorta
, sources close to the matter said on Friday