TOKYO (XFN-ASIA) - Share prices are expected to open weaker as investors take a wait-and-see stance ahead of the start tomorrow of a two-day policy board meeting by the Bank of Japan, dealers said.
The central bank will discuss whether or not it should hike interest rates after the release last week of unexpectedly strong gross domestic product data for the three months to December, led by a rebound in consumer spending.
In Chicago, the Nikkei futures contract settled at 17,860 points, little changed from 17,870 at the Osaka Securities Exchange on Friday.
On the Tokyo bourse, the Nikkei 225 Stock Average closed down 21.58 points or 0.12 pct at
17,875.65, while the TOPIX index of all first
section issues dropped 2.18 points or 0.12 pct to 1,774.53.
Ahead, the Japan Department Stores Association will announce in the afternoon nationwide department store sales for January, while the Cabinet Office will release in the evening its monthly economic report for February.
Stocks to watch include Daimaru Inc and Matsuzakaya following a weekend report that Japan's fourth-largest department store operator, and the eighth-ranked operator have begun negotiations toward integrating their operations, creating Japan's largest department group.
Fast Retailing Co Ltd may move on a report that the operator of Uniqlo casual clothing stores, over the next four years plans to open 200 women's wear outlets through subsidiary Cabin Co, which it acquired recently.
Nppon Express Co Ltd may be active on a report that the transportation firm has joined forces with major Chinese automaker Dongfeng Motor Group Co to jointly set up an autoparts shipping network covering all of China, with the aim of boosting the number of client parts makers it serves to approximately 130 by year-end.
Victor Co of Japan Ltd may also be in focus on a report that JVC plans to increase worldwide sales of consumer-grade video cameras with built-in hard-disk drives to 2.1 mln units in the year to March 2008, up 40 pct from the current fiscal year, as it is seeks half of the global market for such video cameras.
(1 usd = 119.39 yen)
yasuhiko.seki@xfn.com
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