Nikkei set to move narrowly, eyes on yen and data

TOKYO, Nov 11 (Reuters) - Japan's Nikkei average is expected to edge up on Wednesday after the Dow eked out a new 13-month high, but exporters and tech shares are likely to be weaker due to the yen's continued strength, limiting gains. Machinery orders for September and forecasts for October-December, due out just prior to the opening, could provide direction, as could Chinese economic activity indicators due at 0200 GMT. Struggling Japan Airlines Corp likely posted an operating loss of more than 90 billion yen ($1 billion) in the April-September first half, the Nikkei business daily said. Japan's government said on Tuesday it was considering legislation to cut the pensions of JAL retirees and would use loans from a state bank to keep it operating while it seeks its fourth bailout since 2001. "Resistance for the Nikkei is solidifying at 10,000, with a lot of selling pressure above that, and the dollar's seeming inability to recover to 90 yen will likely make exporters and tech shares weak today," said Yutaka Miura, a senior technical analyst at Mizuho Securities. "There aren't a lot of strong trading factors right now and volume is low, so breaking above 10,000 anytime soon will be difficult." The dollar was flat against the yen at 89.80 yen after the greenback bounced off a 15-month low against a basket of currencies on Tuesday. Investors fret about a stronger yen as it eats into exporter profits when repatriated. The Dow industrials eked out a new 13-month high, though the Nasdaq and S&P 500 edged lower, after cautious statements on the economic outlook by several Fed officials underscored the belief that an easy monetary policy will remain intact well into next year. The benchmark Nikkei is likely to move between 9,750 and 9,950 on Wednesday, market players said. It closed at 9,870.73 on Tuesday. In a sign the market may start higher, Nikkei futures traded in Chicago closed at 9,950, up 0.8 percent from the Osaka close. ----------------------MARKET SNAPSHOT @ 2254 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1093.01 -0.01% -0.070 USD/JPY 89.78 -0.03% -0.030 10-YR US TSY YLD 3.4781 -- -0.006 SPOT GOLD 1105.5 0.02% 0.200 US CRUDE 79.05 0.00% 0.000 DOW JONES 10246.97 0.20% 20.03 ------------------------------------------------------------- > Wall St rally stalls but Dow ekes out gain > Dollar moves off 15-month low but still vulnerable > Prices steady after 10Y note sale > Gold rises slightly, near record high > Oil falls on Ida recovery, stronger dollar STOCKS TO WATCH -- Japan Tobacco Japan Tobacco said on Tuesday that chances of its drug division making steady profits could depend on the success of its experimental dyslipidemia drug licensed to Roche. -- Astellas Pharma Astellas, Japan's No.2 drugmaker, said on Tuesday it will buy the rights to develop and sell U.S. firm Ironwood Pharmaceuticals' drug for irritable bowel syndrome in Japan and other parts of Asia. -- Aeon Co Ltd Aeon's struggling women's clothing chain Talbots Inc has hired an adviser to help it refinance $224 million in debt, media reported on Tuesday. Talbots, majority-owned by Aeon, posted a narrower fiscal second-quarter loss than expected in September and gave a third-quarter outlook that exceeded Wall Street forecasts. -- Nippon Kayaku Co Ltd Nippon Kayaku and Spectrum Pharmaceuticals Inc signed an agreement to develop and market Spectrum's experimental bladder cancer drug apaziquone in Asia.. (Reporting by Elaine Lies) (([e-mail]; [phone]; Reuters Messaging:[e-mail])) ($1=89.75 Yen) Keywords: MARKETS JAPAN STOCKS Reuters Terminal users can see other related news and rates by double-clicking on: All Nikkei indices All shares listed on Nikkei-225 N225 index TOPIX index Nikkei Japan 1000 TOPIX sector data Nikkei 300 index TOPIX futures data Osaka N225 data Chicago N225 data Top 30 by volume Top 30 by value Total volume Total value 1st section sector RICs All TSE weighted avg Top 30 gainers by pct Top 30 losers by pct Top 30 net gainers Top 30 net losers Active Japanese stocks Japan economic indicators ASIA-PACIFIC STOCK MARKETS: Pan-Asia Japan S.Korea S.E. Asia Hong Kong Taiwan Australia/NZ India China OTHER MARKETS: Wall Street Gold Currency Eurostocks Oil JP bonds ADR Report LME metals US bonds Stocks News US Stocks News Europe DIARIES & DATA: IPO diary & data Asia earnings diary U.S.

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