TOKYO (XFN-ASIA) - Share prices are expected to open lower following Wall Street's decline Friday after a rise in oil prices sparked inflation concerns, dealers said.
Light, sweet crude for April delivery added 19 cents to settle at 61.14 usd per barrel on the New York Mercantile Exchange, its highest closing price since Dec 22.
San Francisco Federal Reserve president Janet Yellen also reiterated her contention that the Fed should remain vigilant about inflation and raise interest rates if necessary.
But a weaker yen may support buying on shares of exporters and help the market trim potential losses, dealers said.
In the US, the Dow Jones Industrial Average closed down 38.54 points or 0.30 pct at 12,647.48, while the Nasdaq was off 9.84 points or 0.39 pct at 2,515.10.
In Chicago, the Nikkei futures contract settled at 18,205, points down from 18,220 at the Osaka Securities Exchange Friday, indicating a softer start for the Tokyo market.
On the Tokyo bourse Friday, the Nikkei 225 Stock Average closed up 79.63 points or 0.44 pct at a seven-year high of 18,188.42. The TOPIX index of all first-section issues added 12.06 points or 0.67 pct to a fresh 15-year closing high of 1,814.96.
There are no major economic indicators or corporate announcements on tap today.
Stocks to watch include Nikko Cordial on a report that Citigroup Inc is studying plans to substantially increase its 4.9 pct stake in the Japanese brokerage firm to more than 33 pct, giving the US financial giant veto right.
But Nikko Cordial issued a statement, saying that: 'We cannot comment on negotiations, including the identities of specific companies.'
Kawasaki Heavy Industries, Hitachi and East Japan Railway may move on a report that China's Ministry of Railways has approached these firms about possible technical support in operating a high-speed passenger line that would connect the northern cities of Harbin and Dalian.
(1 usd = 121.04 yen)
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