Tokyo shares market Nikkei outlook july 9-13 2012

Tokyo shares market Nikkei outlook july 9-13 2012 : Shares on the Tokyo exchange are likely to trade in a narrow range next week amid investor uncertainty over the outlook for the global economy, In the week to July 6, the Nikkei 225 index at the Tokyo Stock Exchange inched 0.16 per cent, or 13.97 points, higher to 9020.75. The broader Topix index of all first-section shares rose by 0.2 per cent, or 1.75 points, to 771.83.

"Players are still uncertain" about the short-term health of the global economy, "Trading is likely to be range-bound as they will try to adjust their positions on key economic indicators" including China's second-quarter economic growth figures, which will be released on Friday,

It is too early to say that the Nikkei can comfortably stay above the 9000 level,

The market will also look to Japan's central bank policy board meeting on Wednesday and Thursday, amid speculation that it may usher in further easing., But we can't expect much from monetary policies by any central bank since what they can do is limited and the impact of their measures is uncertain,

Global investors have shown mixed reactions to easing and stimulus moves by the European Central Bank, the Bank of England and China's central bank on Thursday in a bid to help power the global economy.

Beijing's second interest rate cut in less than a month surprised markets and stoked worries about slowing growth for the world's second-biggest economy.

Also on Thursday, the European Central Bank cut its main interest rate to a record low 0.75 per cent, while the Bank of England kept its rate the same but announced STG50 billion ($A75.95 billion) in additional stimulus

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