TOKYO (XFN-ASIA) - Share prices are expected to open mixed in cautious trading after an inconclusive performance on Wall Street on Friday in the wake of disappointing jobs data there, dealers said.
The January jobs report showed the US unemployment rate at a four-month high of 4.6 pct, exceeding Wall Street's forecast of 4.5 pct.
The Labor Department also said that he economy added 111,000 jobs last month, below the 150,000 that had been expected.
Investors here are also finding it difficult to react to the latest quarterly results from Japanese companies which showed a mixed bag.
Today, Mitsubishi Chemical Holdings, Mitsubishi Material, Hitachi, Nikon, Olympus, among others, will release earnings for the nine months ended December, while Asahi Glass will announce results for the whole of 2006.
In the US on Friday, the Dow Jones Industrial Average closed down 20.19 points or 0.16 pct at 12,653.49, while the Nasdaq composite index was up 7.50 points or 0.3 pct at 2,475.88.
In Chicago, the Nikkei futures contract settled at 17,560 points little changed from 17,590 at the Osaka Securities Exchange on Friday.
On the Tokyo bourse Friday, the Nikkei 225 Stock Average closed 27.61 points or 0.16 pct higher at 17,547.11, while the broader TOPIX index of all first-section issue ended up 3.82 points or 0.22 pct at 1,742.40.
Stocks to watch include Japan Airlines Corp following a weekend report that the carrier will cut personnel costs by some 50 bln yen by the end of March 2010 from the current level, as part of its accelerating turnaround efforts.
Hitachi Ltd may be active on a report that the maker of electronics products will postpone by about six months a decision on building a new factory for television-use plasma panels because of stiff competition and sharp price declines.
Showa Denko KK may rise on a report that the chemical producer will begin mass production of organic electroluminescent panels measuring up to 30 square centimeters within the year.
Nissan Motor Co Ltd may tumble after Japan's second-largest automaker issued Friday a profit warning for the current year to March 2007, on the back of sluggish vehicle sales, as it prepares to suffer the first decline in operating profit in seven years.
(1 usd = 121.11 yen)
yasuhiko.seki@xfn.com
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