(Adds forecast range for Nikkei)
TOKYO, Jan 19 (Reuters) -Japan's Nikkei average is expected
to rise on Wednesday, helped by robust earnings for Apple Inc
<AAPL.O> whose stock climbed in extended trade and after target
price hikes for Google <GOOG.O> lifted Wall Street.
Shares of Apple added almost 4 percent at one stage in
extended trading after the company reported better-than-expected
revenue, fueled by blockbuster holiday sales of the iPhone and
iPad.
"The market was nervous about its CEO's medical leave, but
investors seem to get past that news," said Masumi Yamamoto,
market analyst at Daiwa Securities Capital Markets.
On Tuesday during Asian trading hours, some touch panel
makers were hit by the news that Apple CEO Steve Jobs was again
taking medical leave.
Analysts also say that precision equipment makers like Canon
Inc <7751.T> and Nikon Corp <7731.T> may be helped by gains in
the euro, which hit a one-month high above $1.34 on central bank
buying and strong German economic data.
The single currency traded at $1.3382 at 2303 GMT.
Analysts said the euro could extend gains in the weeks ahead
amid hopes policymakers would prevent the region's debt woes from
spreading.
"Concerns about the euro-zone sovereign debt are receding for
the moment," said Hiroichi Nishi, general manager at Nikko
Cordial Securities.
He added that foreign buying may continue as October-December
results for listed Japanese companies, which gets underway later
this month, are widely expected to show a continued steady
recovery in earnings.
The benchmark Nikkei <> is expected to trade in a range
of 10,500-10,650, analysts said. Orders placed through Japanese
stocks through nine foreign securities houses before the start of
trade showed net buy orders of 3.6 million shares.
The Nikkei ended up 0.2 percent or 16.12 points at 10,518.98
Tuesday. Nikkei futures traded in Chicago <2NKc1> closed at
10,575, compared with 10,520 in Osaka <JNIc1>.
----------------------MARKET SNAPSHOT @ 2306 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 <.SPX> 1295.02 0.14% 1.780
USD/JPY <JPY=> 82.62 0.04% 0.030
10-YR US TSY YLD <US10YT=RR> 3.37 -- 0.000
SPOT GOLD <XAU=> 1366.15 -0.10% -1.340
US CRUDE <CLc1> 91.15 -0.25% -0.230
DOW JONES <> 11837.93 0.43% 50.55
-------------------------------------------------------------
> Wall St up as Google, Caterpillar offset Apple's drop []
> Euro up vs dollar, yuan up as Hu, Obama meet []
> U.S. debt prices slip as corporate issuance looms []
> Gold rises on Asian demand, dollar decline []
> Brent rises on supply issues while U.S. oil slips []
STOCKS TO WATCH
-- Mitsui & Co <8031.T>
Mitsui & Co, a Japanese trading house, said on Tuesday it had
agreed to buy a 14.9 percent stake in Russia's largest instant
payment system Qiwi, increasing the conglomerate's presence in
the Russian market. []
The company did not disclose financial details of the deal,
under which Qiwi's management and internet investor Mail.RU Group
<MAILRq.L> will cut their stakes to 63.7 percent and 21.4 percent
respectively.
-- Mitsubishi Heavy Industries Ltd. <7011.T>
Mitsubishi Heavy said Tuesday that it has received a natural
gas power plant order from a subsidiary of major U.S. electricity
provider Dominion Resources Inc.
(Reporting by Ayai Tomisawa; Editing by Edwina Gibbs)
