(Adds stocks)
TOKYO, Feb 7 (Reuters) - Japanese stocks are expected to move
in a narrow range on Thursday, with investors remaining cautious
over the U.S. economic outlook and Japanese corporate earnings.
"The market is likely to see a rebound early in the session
following recent losses, but the upward move will be limited,"
said Hiroichi Nishi, general manager of equity marketing at Nikko
Cordial Securities.
The benchmark Nikkei average lost 5.5 percent in the previous
two sessions.
Nishi said investors see many reasons for holding off their
bets ahead of corporate earnings announcements, Friday's
settlement of index options contracts as well as a meeting of
Group of Seven finance ministers and central bank governors in
Tokyo this weekend.
Softbank Corp <9984.T>, Japan Tobacco Inc <2914.T> and Kirin
Holdings Co Ltd <2503.T> are among the firms scheduled to
announce their earnings later in the day.
Market participants see the Nikkei average <> moving
between 12,900 and 13,200 on Thursday, compared with Wednesday's
close of 13,099.24.
Nikkei futures traded in Chicago <2NKc1> finished at 13,115
on Wednesday, 25 points above the Osaka <JNIc1> close.
----------------------MARKET SNAPSHOT @ 2257 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 <.SPX> 1326.45 -0.76% -10.190
USD/JPY <JPY=> 106.37 -0.27% -0.290
10-YR US TSY YLD <US10YT=RR> 3.594 -- 0.000
SPOT GOLD <XAU=> 900.4 0.00% 0.000
US CRUDE <CLc1> 87.14 0.00% -1.270
DOW JONES <> 12200.10 -0.53% -65.03
-------------------------------------------------------------
> Wall St Week Ahead: After Fed's rescue, volatile days ahead []
> Euro slips ahead of ECB meeting []
> Bonds ease in profit-taking from recent rally []
> Platinum hits record high on SAfrica supply, gold []
> Oil extends slump as U.S. fuel stocks rise []
STOCKS TO WATCH
-- Toshiba Corp <6502.T>
Toshiba has decided to build a new NAND flash memory plant in
Iwate, northern Japan. The total investment will top 700 billion
yen and production will begin in the year beginning April 2009,
the Asahi newspaper said on Thursday.
-- Japan Prime Realty Investment Corp <8955.T> and other real
estate investment trusts (REIT)
The Government of Singapore Investment Corp, a sovereign
wealth fund run by the government of Singapore, is increasing
investment in Japanese REITs because it believes they are at
attractive levels, the Nikkei business daily said on Thursday.
GIC owns 5 percent of Japan Prime Realty Investment, the
newspaper said, citing a regulatory filing.
-- Matsui Securities Co <8628.T> and other online brokers
Japan's top five online brokerages last month signed up the
highest number of new customers since July, as individual
investors jumped back into the stock market following its recent
plunge, the Nikkei business daily said on Thursday.
-- Kajima Corp <1812.T>
Construction firm Kajima has spent several billion yen to
acquire U.S. construction firm Batson-Cook Co to boost its
presence in the southeastern part of the U.S., the Nikkei
business daily reported on Thursday.
-- Citizen Holdings Co Ltd <7762.T>
The company said its April-December operating profit rose
14.1 percent to 22 billion yen, buoyed by its clock and
electronics device businesses.
(Reporting by Taiga Uranaka)
