Tokyo, May 22 : Japanese stocks are expected to open higher on Monday after a recovery in U.S. stocks encourages investors to look for undervalued issues.
Buyers may seek technology stocks such as Sony Corp., many of which have been sold recently following declines in their U.S.
counterparts on concerns about inflation and higher interest rates.
Separately, Sony and KDDI Corp. plan to jointly develop a music player for mobile phones, the Nihon Keizai business daily said on Monday.
''U.S. stocks have turned around, and that would help a technical rebound in the Tokyo market,'' said Hiroichi Nishi, general manager at Nikko Cordial Securities' equity marketing. Traders expect the Nikkei average to move between 16,100 and 16,400 on Monday.
It rose 0.42 percent on Friday as investors, encouraged by stronger-than-expected gross domestic product (GDP) data, picked up Canon Inc. and other stocks that had declined.
In Chicago, Nikkei futures expiring in June closed at 16,225, a rise of 115 points from the Osaka finish.
Major banks, including Mitsubishi UFJ Financial Group Inc. and Mizuho Financial Group Inc. will announce earnings on Monday.
U.S. stocks rose on Friday, ending a week-long tumble, as strength in tech stocks offset a slide in shares of some commodity-related companies.
The Dow Jones industrial average gained 15.77 points, or 0.14 percent, to end at 11,144.06. The tech-laced Nasdaq Composite Index rose 13.56 points, or 0.62 percent, to close at 2,193.88.
STOCKS TO WATCH -- NTT DoCoMo Inc.
Japan's largest mobile phone operator plans to make all its models compatible with global standards so they can be used in more than 130 countries, the Yomiuri newspaper said on Sunday.
-- Toyota Motor Corp.
The world's second-biggest auto maker plans to build a new factory in China, taking its annual production capacity in the country to 900,000 units in 2009, the Nihon Keizai said on Saturday.
-- Usen Corp.
MAC Asset Management, a fund led by bureaucrat turned activist investor Yoshiaki Murakami, has taken a 5.21 percent stake in the cable broadcaster, according to a filing on Friday.
-- Millea Holdings Inc.
Japan's biggest general insurer said on Friday it would take full control of its affiliate, Nisshin Fire&Marine Insurance Co., by buying the roughly 70 percent of Nisshin's shares it does not already own for about 0 million.
Reuters
Buyers may seek technology stocks such as Sony Corp., many of which have been sold recently following declines in their U.S.
counterparts on concerns about inflation and higher interest rates.
Separately, Sony and KDDI Corp. plan to jointly develop a music player for mobile phones, the Nihon Keizai business daily said on Monday.
''U.S. stocks have turned around, and that would help a technical rebound in the Tokyo market,'' said Hiroichi Nishi, general manager at Nikko Cordial Securities' equity marketing. Traders expect the Nikkei average to move between 16,100 and 16,400 on Monday.
It rose 0.42 percent on Friday as investors, encouraged by stronger-than-expected gross domestic product (GDP) data, picked up Canon Inc. and other stocks that had declined.
In Chicago, Nikkei futures expiring in June closed at 16,225, a rise of 115 points from the Osaka finish.
Major banks, including Mitsubishi UFJ Financial Group Inc. and Mizuho Financial Group Inc. will announce earnings on Monday.
U.S. stocks rose on Friday, ending a week-long tumble, as strength in tech stocks offset a slide in shares of some commodity-related companies.
The Dow Jones industrial average gained 15.77 points, or 0.14 percent, to end at 11,144.06. The tech-laced Nasdaq Composite Index rose 13.56 points, or 0.62 percent, to close at 2,193.88.
STOCKS TO WATCH -- NTT DoCoMo Inc.
Japan's largest mobile phone operator plans to make all its models compatible with global standards so they can be used in more than 130 countries, the Yomiuri newspaper said on Sunday.
-- Toyota Motor Corp.
The world's second-biggest auto maker plans to build a new factory in China, taking its annual production capacity in the country to 900,000 units in 2009, the Nihon Keizai said on Saturday.
-- Usen Corp.
MAC Asset Management, a fund led by bureaucrat turned activist investor Yoshiaki Murakami, has taken a 5.21 percent stake in the cable broadcaster, according to a filing on Friday.
-- Millea Holdings Inc.
Japan's biggest general insurer said on Friday it would take full control of its affiliate, Nisshin Fire&Marine Insurance Co., by buying the roughly 70 percent of Nisshin's shares it does not already own for about 0 million.
Reuters
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