TOKYO (XFN-ASIA) - Share prices are expected to open mixed following Wall Street's lethargic performance on Friday where data showing increased wholesale inventories offset an upbeat report on employment, dealers said.
The US Labor Department said that in February, the unemployment rate fell to 4.5 pct from 4.6 pct as US employers added 97,000 nonfarm workers, and wages rose.
But the Commerce Department said that wholesale inventories rose 0.7 pct in January, sparking worries over a drop in demand and possible economic weakness.
The Dow Jones Industrial Average closed up 15.62 points or 0.13 pct at 12,276.32, while the Nasdaq composite index was down 0.18 point at 2,387.55.
In Chicago, the Nikkei futures contract settled at 17,200 points, up from 17,110 at the Osaka Securities Exchange Friday.
On the Tokyo bourse Friday, the Nikkei 225 Stock Average closed 73.73 points or 0.43 pct higher at 17,164.04, while the TOPIX index of all first-section issues rose 9.35 points or 0.54 pct to settle at 1,730.31.
Ahead in Japan, the Cabinet Office will release 10 minutes before the opening bell revised real gross domestic product data for the October-December quarter. The Ministry of Finance will announce current account surplus for January and the Bank of Japan will report corporate goods price index for February at the same time.
In the afternoon, Teikoku Databank will release corporate bankruptcy figures for February and the Cabinet Office will report results of its consumer confidence survey for the same month.
Stocks to watch include Victor Co of Japan (JVC) following a report that US investment funds TPG Inc and Cerberus Group have separately placed bids to acquire a majority stake in the consumer electronics firm.
Tokyo Electron Ltd may advance on a report that the world's second-largest maker of semiconductor chip and flat panel making equipment is expected to post group operating profit of 135 bln yen in the year ending March 31, up 78 pct for the year and higher than its official forecast of 130 bln yen.
KDDI Corp may rise on a report that the telecommunications firm will team up with East Japan Railway Co to offer fiber-optic broadband services to 120,000 households in areas along shinkansen bullet train lines from April.
(1 usd = 118.32 yen)
yasuhiko.seki@xfn.com
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