Nikkei to rise but stay in narrow range on low volume

TOKYO, Dec 21 (BestGrowthStock) -Japan’s Nikkei average is expected
to open a tad higher on Tuesday but will likely stay in a narrow
range on an absence of foreign participants and a lack of trading
cues before the Christmas holidays.

“Fewer participants are expected this week, so volume may
stay thin,” said Hiroichi Nishi, general manager at Nikko Cordial

“The Nikkei may rise to near the close of futures in Chicago,
and is expected to stay flat throughout the day.”

Nikkei futures in Chicago (2NKc1: ) closed at 10,265, up 0.3
percent from the Osaka close (JNIc1: ) of 10,230.

The benchmark Nikkei (.N225: ) will likely trade between 10,150
and 10,300, analysts said, after shedding 0.9 percent to 10,216
on Monday.

Traders said that while large global cyclical shares may lose
steam due to the absence of foreign investors, domestic retail
players may pick up small services-related stocks such as social
networking service providers Dena Co (2432.T: ) and Mixi Inc
(2121.T: ).

“It’s not like they are trading on fresh cues, but interest
in small stocks remain especially on companies with good
earnings,” said Shinichiro Matsushita, market analyst at Daiwa
———————-MARKET SNAPSHOT @ 2316 GMT ————

S&P 500 (.SPX: ) 1247.08 0.25% 3.170
USD/JPY (JPY=: ) 83.77 0.02% 0.020
10-YR US TSY YLD (US10YT=RR: ) 3.3397 — 0.000
SPOT GOLD (XAU=: ) 1384.6 -0.02% -0.300
US CRUDE (CLc1: ) 89.31 -0.07% -0.070
DOW JONES (.DJI: ) 11478.13 -0.12% -13.78
> Wall St edges higher on energy, financial shares [.N]
> Euro falls broadly, market braces for more losses [USD/]
> Long-dated bonds slip after Fed purchases [US/]
> Gold draws safe-haven flows, up for second day [GOL/]
> Oil up at Jan expiry on strong gasoline, cold weather [O/R]


–TOSHIBA CORP (6502.T: )

Toshiba may log 1 trillion yen ($11.94 billion) in sales from
its nuclear power business by fiscal 2013, instead of fiscal
2015, due to a growing demand in emerging markets and the United
States, its President Norio Sasaki told the Nikkei busines daily
in an interview.

After acquiring major U.S. nuclear power firm Westinghouse
Electric Co, Toshiba had set a target to receive orders for 39
nuclear reactors from fiscal 2006 through fiscal 2015, the paper
said. [ID:nSGE6BJ0CR]


Fuji Heavy Industries Ltd will partner with Chinese carmaker
Chery Automobile Co on a plant in Dalian, China with a total
investment of about 30 billion yen, the Nikkei reported.

Fuji Heavy President Ikuo Mori is expected to visit China to
talk with Chery executives in January and the companies may sign
a 50-50 joint venture agreement in March, the Nikkei said.
(Reporting by Ayai Tomisawa; Editing by Joseph Radford)

Nikkei to rise but stay in narrow range on low volume