TOKYO, Feb 9 (Reuters) - Japan's Nikkei average is expected to gain on Monday, buoyed by exporters on a weaker yen and after hopes for economic stimulus measures by the U.S. government boosted Wall Street.
One stock in focus will be Nomura Holdings Inc after news that Japan's top brokerage will raise up to $3.3 billion in its first issue of common shares in 20 years to replenish a capital base depleted by soured investments and its acquisition of parts of failed investment bank Lehman Brothers.
Investors will also watch core machinery orders set to be released before the start of trade. They are expected to have slid 8.8 percent in December from the previous month, following a record 16.2 percent plunge in November, boding ill for corporate capital spending.
"Hopes for U.S. economic plans will likely keep supporting the market this week despite persisting worrisome factors such as corporate earnings," said Hiroichi Nishi, general manager at Nikko Cordial Securities.
"Also helped by a halt in the appreciation of the yen, the market will likely rise and then be range-bound today as it closely watches currency moves and any developments in the U.S. economic plans."
On Sunday the Obama administration pushed back until Tuesday the announcement of a keenly awaited bank rescue plan as it pressed lawmakers to settle their differences over a huge economic stimulus package.
Nikkei futures traded in Chicago closed at 8,340 on Friday, up 280 points from the Osaka close, pointing to a higher opening.
Market participants expect the benchmark Nikkei to trade between 8,000 and 8,300 yen on Monday. It rose 1.6 percent on Friday to end at 8,076.62. ----------------------MARKET SNAPSHOT @ 2302 GMT ------------
LAST PCT CHG NET CHG S&P 500 868.6 2.69% 22.750 USD/JPY 92.12 0.37% 0.340 10-YR US TSY YLD 2.9971 -- 0.000 SPOT GOLD 908.8 -0.32% -2.900 US CRUDE 40.01 -0.40% -0.170 DOW JONES 8280.59 2.70% 217.52 ------------------------------------------------------------- > Stimulus, bank rescue hopes boost Wall Street > US dollar, yen tumble on US stimulus, bank rescue hopes > Bonds slip as jobs misery revives supply concerns > Gold ends shade firmer, eyes US economic stimulus > Oil falls $1 as U.S. job losses mount STOCKS TO WATCH
-- Toyota Motor Corp
Toyota, the world's top carmaker, said its losses were ballooning as world car sales drop, while truckmaker Volvo swung to a fourth-quarter loss and Italy readied aid for the ailing industry.
-- Pioneer Corp
Struggling Japanese electronics maker Pioneer said it is weighing various options regarding its loss-making flat TV business including withdrawal and termination of in-house TV production.
-- Sharp Corp
Japanese electronics maker Sharp swung to a quarterly loss, battered by steep price falls for flat panel TVs and a firmer yen, and warned on Friday it would post its first ever annual operating loss.
-- Elpida Memory Inc
Japanese PC memory maker Elpida said on Friday it expects DRAM chip manufacturers to form two major camps -- envisaging one headed by itself with Taiwanese peers, and another grouping South Korean rivals.
-- Mitsubishi UFJ Financial Group
Top Japanese bank Mitsubishi UFJ booked its first quarterly net loss on Friday, hit by widening bad-loan costs and losses on its stock holdings, and further slashed its full-year forecast. (Reporting by Aiko Hayashi; Editing by Michael Watson)