Nikkei rises after Wall Street gains; market awaits US jobs data

jueves 5 de febrero de 2015 22:25 GYT

* Nikkei down 0.2 pct for the week
    * Nikon dives after cutting forecast
    * Resona outperforms on report that Nippon Life considers
taking a stake

    By Ayai Tomisawa
    TOKYO, Feb 6 (Reuters) - Japanese shares rose on Friday
after Wall Street gained and oil prices rebounded, but investors
remained cautious ahead of the  U.S. jobs report later in the
day, which could impact the yen.
    The Nikkei share average gained 0.8 percent to
17,643.19 points, after falling 1 percent on the previous day.
For the week, the Nikkei has fallen 0.2 percent. 
    Market participants hop the U.S. job data will give further
clues on the economic growth outlook and the timing of the U.S.
Federal Reserve's move to raise interest rates.    
    Economists polled by Reuters expected U.S. employers to add
234,000 workers in January, below December's increase of
252,000. The jobless rate was expected to remain at a 6-1/2 year
low of 5.6 percent, while average hourly earnings was estimated
to show a rise of 0.3 percent following the previous month's
surprise 0.2 percent drop.
    "If the data is strong, instant reaction in the Japanese
market should be positive because the dollar will likely rise
against the yen," said Toru Ibayashi, executive director of
wealth management at UBS.
    But he also noted that in a bigger perspective, there are
worries that the U.S. rate hike can cause liquidity to shrink in
the global market, which can hit the Japanese market indirectly
in the short-term.
    Resona Holdings Inc jumped 2.4 percent to a
one-month high after the Yomiuri newspaper reported that Nippon
Life Insurance Co is in the final stages of talks to
take a stake in the bank. 
    Exporters were steady, with the dollar being little changed
at 117.48 yen. Toyota Motor Corp rose 0.1
percent, Honda Motor Co added 0.9 percent and Tokyo
Electron Ltd soaring 2.5 percent.
    Bucking the strength, Nikon Corp tumbled as much as
10 percent to more than a three-month low after the company cut
its earnings forecast for the year ending March. 
    The broader Topix rose 0.6 percent to 1,418.93, and
the JPX-Nikkei Index 400 advanced 0.7 percent to

 (Editing by Kim Coghill)