Nikkei set to climb on hopes for Greece rescue

TOKYO (BestGrowthStock) – Japan’s Nikkei average is set to climb on Friday as signs that a bailout for Greece could come soon helped ease fears about a wider sovereign debt crisis, boosting shares on Wall Street.

Exporters such as Canon Inc (7751.T: ) are likely to benefit as growing hopes for a rescue package for Greece allay concerns that the euro zone’s debt problems will slow down the European economy.

“The stock market is likely to recoup the sharp losses made on Wednesday as a bailout for Greece is likely to be out soon,” said Kazuhiro Takahashi, general manager of the equity marketing department at Daiwa Securities Capital Market.

Japanese financial markets were closed for a national holiday on Thursday.

The Nikkei (.N225: ) slid 2.6 percent on Wednesday to 10,924.79, marking its biggest one-day percentage fall since early February.

Market players expect the benchmark average to move between 11,000 and 11,200 on Friday.

In a sign the market may open higher, Nikkei futures traded in Chicago closed at 11,095, up from the Osaka close of 10,094 on Wednesday.

U.S. stocks (Read more about the stock market today. ) saw their best day in nearly two months on Thursday as investors welcomed a string of robust earnings reports, while Greece appeared close to a bailout deal. (.N: )

Wall St rallies on earnings, Greece aid hopes (.N: ) > Euro climbs for second day; optimism on Greek rescue (USD/: ) > Treasury prices rise on Greece concerns, strong auctions (US/: ) > Gold flat as safe haven bid eases after rally (GOL/: ) > Oil up a second day on optimism, risk appetite (O/R: )

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(Reporting by Rika Otsuka; Editing by Chris Gallagher)

Nikkei set to climb on hopes for Greece rescue