With prices of oil and metals rising higher, shares of commodity producers will benefit.
Large-cap, low-priced issues are under the spotlight now that long-term bond yields are falling. That made Tokyo Gas's annual yield of 1.3 percent and Tokyo Electric's 2.0 percent yield look relatively attractive,
I see the Nikkei well supported above the 18,000 level as there are hopes for buying by newly launched investment trusts, but strong gains are unlikely until after next week's holidays.
Foreign investors are lowering their weighting of Japanese stocks. Their order placements must be closely watched.
Retailers will be in focus after the Seven & I merger news.
Gains in U.S. stocks and a halt in the yen's rise are both supportive for the market.
Optimism is increasing that the land price report will confirm that Japan is out of deflation and that the economy is recovering.
Steelmakers may see more buying on the back of higher reported profits.
The stock had been gaining in the days leading up to the business plan, but it still doesn't warrant a buy.
As a series of key economic events is scheduled this week in both Japan and the United States, it's hard to make major moves now.
