TOKYO, Sept 11 (Reuters) - Japan's Nikkei stock average is likely to drift higher on Friday amid growing investor confidence that has boosted global stock markets, but with rises checked and perhaps even erased should the yen advance further.
Japanese talent agency Yoshimoto Kogyo Co Ltd plans to go private in a 52.7 billion yen ($571 million) buyout led by a consortium of about 20 firms, two sources familiar with the matter said.
Investors will also wait for a slew of Chinese economic indicators due out at the end of morning trade, with direction perhaps changing depending on how Chinese stocks respond. "Despite the fact that the Nikkei rose yesterday, there still isn't all that much energy in the market, with both the Chinese indicators and dollar/yen movements likely to have an impact on trade," said Hiroichi Nishi, general manager in the equity division of Nikko Cordial Securities.
"But with a lot of global stock markets putting in good performances these days, sentiment isn't all that bad either."
The U.S. dollar fell for a fourth straight day on Thursday, hitting its lowest level in nearly a year against major currencies. It hit a seven-month low of 91.45 yen before edging higher and was flat in early Asian trade at 91.73 yen.
Settlement of Nikkei futures and options takes place on Friday, the so-called "special quotation" or "SQ," and this could make trade volatile, with shares being sold after the settlement level has been decided.
The Nikkei is likely to move between 10,400 and 10,600, analysts said. It rose 2 percent on Thursday, its biggest one-day gain in two weeks, to close at 10,513.67.
In a sign the market is likely to start off higher, Nikkei futures traded in Chicago edged up 0.7 percent from their Osaka close of 10,470. > Wall St gains for 5th day on upbeat company news > U.S. dollar weakens as stocks, commodities rise > Bonds rally on robust 30-year debt auction > Gold ends down but weak dollar, higher oil support > Oil up as US crude stocks dip, OPEC maintains curbs STOCKS TO WATCH
-- Toshiba Corp
Toshiba needs to consider acquisitions so as to develop sales routes and gain share overseas in the growing market for LED lights, the head of its lighting systems operations said on Thursday.
-- Daiwa Securities Group, Sumitomo Mitsui Financial Group
Daiwa Securities said it would pay about $2.2 billion to buy out Sumitomo Mitsui Financial Group from their investment banking joint venture, leaving Daiwa vulnerable amid intensifying competition for deals in Japan.
-- Asahi Kasei Corp
Synthetic fibre maker Asahi Kasei said on Thursday it was considering building a plant in Saudi Arabia with other firms including Saudi Basic Industries Corp (SABIC) to make products used in resin and acrylic fibre.
-- Nissan Motor Co
Nissan plans to issue bonds totaling 20 billion to 30 billion yen later this month, the first such offering by Japan's No. 3 automaker since June 2007, the Nikkei business daily reported. (Reporting by Elaine Lies)