TOKYO, March 6 Japanese stocks may rise on
Thursday, picking up from a six-week closing low hit the previous
day, with exporters such as Canon Inc (7751.T) likely to gain on
easing concerns about a U.S. recession and a stabilising yen.
"The external environment is calm for now," said Kazuhiro
Takahashi, a general manager of equity marketing at Daiwa
U.S. stocks rose on Wednesday as data suggesting the services
sector may not be as weak as feared allayed investors' concerns
about a recession.
"The U.S. economic outlook will likely encourage investors.
Risk aversion hasn't further escalated as you can see from the
currency, which is trading around 104 yen against the dollar,"
He added that investors would be looking out for Nippon Steel
Corp's (5401.T) earnings forecast for the year due to be
announced later in the day for further clues on the health of the
Nikkei futures traded in Chicago 2NKc1 closed at 13,035 on
Wednesday, up 65 points from the close in Osaka JNIc1, pointing
to a slightly higher opening.
On Wednesday, the benchmark Nikkei average .N225 ended down
0.2 percent at 12,972.06, its lowest close since Jan 23.
----------------------MARKET SNAPSHOT @ 2305 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1333.7 0.52% 6.950
USD/JPY JPY= 103.9 -0.11% -0.110
10-YR US TSY YLD US10YT=RR 3.6832 -- 0.000
SPOT GOLD XAU= 988.9 0.08% 0.800
US CRUDE CLc1 104.5 -0.02% -0.020
DOW JONES .DJI 12254.99 0.34% 41.19
> Wall St ends up on services data, commodities [.N]
> Dollar slides through new record lows vs euro [USD/]
> Inflation fears strike long-maturity bonds [US/]
> Gold hits lifetime peak as dollar sinks, oil rises [GOL/]
> Oil roars to record near $105 on OPEC, US drawdown [O/R]
STOCKS TO WATCH
-- Sony Corp (6758.T)
A senior Sony executive said on Wednesday that electronics
sales in the United States have been solid in the first two
months of the year, despite concerns about the economy.
-- Sky Perfect JSAT Corp (9412.T)
The satellite broadcasting platform operator on Wednesday
raised its annual dividend forecast to 1,500 yen per share from
1,000 yen in an earlier estimate.
It also said it would cancel 6.8 percent of its own shares on
--Mitsubishi Chemical Holdings Corp (4188.T).
Mitsubishi Chemical Corp, a unit of Mitsubishi Chemical
Holdings, said on Wednesday it aimed to resume operations at the
No. 2 unit of its Kashima ethylene plant around mid- to late
March, about three months after it was hit by a fire that claimed
Initially, the No. 2 unit is expected to produce about
320,000 tonnes of ethylene per year, or about 62 percent of full
capacity, the company said. [ID:nT248177]
-- Toyota Motor Corp (7203.T)
Toyota will not need to build a new car factory in Europe for
the next few years, as it can rely on some increase in imports
from the stagnant Japanese market, a top executive said on
Separately, the Nikkei business daily said on Thursday that
Toyota has decided to start marketing Toyota brand cars in South
Korea, where it already sells its Lexus luxury cars.
-- Sega Sammy Holdings Inc (6460.T)
Video game publisher Sega has sold 5 million copies of "Mario
& Sonic at the Olympic Games", topping its expectations and
giving it confidence that it can grab a bigger slice of the
fast-growing market, the president of the firm's U.S. arm said in
an interview. [ID:nN05621750]
Sega is a unit of Sega Sammy Holdings.
-- JFE Holdings Inc (5411.T), Hitachi Zosen Corp (7004.T)
JFE Holdings has agreed with Hitachi Zosen to turn their
50-50 joint shipbuilding venture into a JFE unit, a move that
will advance JFE's talks with IHI Corp (7013.T) on consolidating
their shipbuilding businesses, the Nikkei business daily reported
-- Tokyo Dome Corp (9681.T)
Tokyo Dome's group net profit will likely rise 32 percent to
about 10 billion yen in the year to next January, after higher
costs related to deferred tax assets hit earnings last year, the
Nikkei business daily said on Thursday.
(Reporting by Aiko Hayashi; Editing by Hugh Lawson)