Nikkei may hover before US data, yen rise a worry

TOKYO, Jan 9 (Reuters) - Japan's Nikkei share average is
likely to move narrowly on Friday ahead of key U.S. payrolls
data, with Toyota Motor Corp (7203.T) and other exporters weak
after the yen rose on heightened fears about the global economy.

Among domestic stocks, electronic components maker TDK Corp
(6762.T) said on Thursday that it expects to plunge to a 28
billion yen ($307.3 million) net loss this business year, its
biggest loss ever, due to weak orders and the stronger yen, and
that it would cut more than 8,000 jobs overseas. [ID:nT360458]

The dollar was fetching some 91.16 yen in early Asian trade
after falling ahead of a government report expected to show the
U.S. economy lost more than half a million jobs in December for
the second month in a row.

"People are nervous ahead of the jobs data, so there's no
real sense that investors will be interested in buying," said
Yutaka Miura, a senior technical analyst at Shinko Securities.

"Yet bad numbers are factored in to an extent, so falls may
be limited."

Exporters are set to be in focus as attention centres on
currency movements, though Miura said that slides in many
exporter shares on Thursday may limit their falls.

The benchmark Nikkei .N225 is likely to move from 8,800 to
9,100, though moves much above 9,000 are likely to be met with
profit-taking. The Nikkei closed at 8,876 on Thursday.

Nikkei futures traded in Chicago 2NKc1 closed at 9,040,
compared with the Osaka close JNIc1 of 8,870.
----------------------MARKET SNAPSHOT @ 2249 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 909.73 0.34% 3.080
USD/JPY JPY= 91.14 -0.01% -0.010
10-YR US TSY YLD US10YT=RR 2.4415 -- -0.054
SPOT GOLD XAU= 855.8 -0.04% -0.300
US CRUDE CLc1 41.7 0.00% -0.930
DOW JONES .DJI 8742.46 -0.31% -27.24
-------------------------------------------------------------
> Wall St up on expected foreclosure deal; Dow off [.N]
> Dollar slumps ahead of key U.S. payrolls report [USD/]
> Bonds rise ahead of dreaded December jobs data [US/]
> Gold ends higher, option trade seen bullish [GOL/]
> Oil drops nearly $1 on economic gloom [O/R]
STOCKS TO WATCH

-- TDK Corp (6762.T)

Japanese electronic components maker TDK said on Thursday it
now expects to plunge into a 28 billion yen net loss this
business year, its biggest annual loss ever, due to weak orders
and a stronger yen. [ID:nT360458]

-- Sumitomo Mitsui Financial Group (8316.T)

Sumitomo Mitsui Financial Group, Japan's third-largest bank,
said it will raise an additional 160.7 billion yen by issuing
preferred securities, bringing its total to just under 700
billion yen. [ID:nT71272]

-- Seven & I Holdings Co Ltd (3382.T)

Seven & I, Japan's largest retailer, reported on Thursday a
7.9 percent rise in operating profit for the quarter ended in
November and kept its forecast for the year, as its convenience
stores attracted thrifty consumers amid an economic slump.
[ID:nT17399]

-- Nippon Steel Corp (5401.T)

Nippon Steel, the world's second-biggest steelmaker, said on
Thursday it would book 57.9 billion yen ($620 million) in
valuation losses on its securities holdings for the nine months
ended on Dec. 31. [ID:nT92747]

-- Mediceo Paltac Holdings (7459.T), Alfresa Holdings
(2784.T)

Drug wholesalers Mediceo Paltac and Alfresa have decided to
scrap their planned merger after Japan's antimonopoly watchdog
demanded they sell off some of their assets, the Nikkei business
daily reported on Friday.

Mediceo Paltac, Japan's top drug wholesaler, and No. 2
Alfresa Holdings had announced in October that they planned to
merge to better cope with falling prices and tough competition.
[ID:nT149401]

-- Nissan Motor Co Ltd (7201.T)

Nissan said on Thursday that it is cutting 1,200 jobs at its
Sunderland plant, northeast England, in response to a dramatic
decline in demand that has seen sales fall more than 20 percent
in recent months. [ID:nL8654643]
-- Toyota Motor Corp (7203.T)

Toyota plans to promote Akio Toyoda to president, marking the
first time in 14 years that a member of the company's founding
family will lead the automaker, the Nikkei business daily
reported on Friday. [ID:nN08543226]

-- Sony Corp (6758.T)

Sony introduced on Thursday a bendable video screen, a Wi-Fi
camera and eyeglasses that display movies, saying the industry
must keep innovating in the midst of a severe economic slump.
[ID:nN08543503]
(Reporting by Elaine Lies; Editing by Hugh Lawson)