Tokyo shares outlook - Higher after Wall St extends rebound |
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Thu, 08 Mar 2007 23:52
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TOKYO (XFN-ASIA) - Share prices are expected to open higher after Wall Street extended its recovery overnight following gains in equity markets in Europe and Asia, with a weaker yen also seen lifting investor sentiment, dealers said.But the market's advance may be limited before the release of the key US nonfarm payroll data late in the global session with investors also likely to keep an eye on the latest private sector core machinery orders in Japan due out today.The Dow Jones Industrial Average closed up 68.25 points or 0.56 pct at 12,260.70, while the Nasdaqcomposite index was 13.09 points or 0.55 pct higher at 2,387.73.In Chicago, the Nikkei futures contract settled at 17,105 points from 17,070 at the Osaka Securities Exchange yesterday, pointing to a firmer start for the Tokyo market.On the Tokyo bourse, the Nikkei 225 Stock Average closed up 325.69 points or 1.94 pct at 17,090.31,while the TOPIX index of all first-section issues gained 31.36 points or 1.86 pct to settle at 1,720.96.Stocks to watch include Aeon Co on a report that the retailer, which is set to sign an accord for a capital and business tie-up with struggling supermarket operator Daiei Inc, has agreed with top Daiei shareholder Marubeni Corp to enter into a cross-shareholding relationship.Sumitomo Realty & Development Co may advance on a report that the property developer plans to increase its condominium supplies to 7,000 units a year in the year to March 2009, up from 4,000 planned for the year to March 2007, as it seeks to overtake industry leader Daikyo Inc.Sony may be active on a report that its game unit Sony Computer Entertainment Inc, which loses money on each PlayStation 3 that it sells, plans to lower production costs for the console by switching to less-expensive chips.(1 usd = 117.10 yen)yasuhiko.seki@xfn.comys/mas
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Asian shares higher in midday trade on technical rebound, easing yen strength 