Japan stocks seen moving higher on exporters

TOKYO, May 29 (Reuters) Japanese stocks are expected to rise on Monday, with exporters such as Sony Corp. gaining ground on a weaker yen and after an advance in U.S. stocks.

Sentiment is also likely to be boosted after Chicago-traded Nikkei futures rose above 16,000 for the first time in five sessions on Friday, said Yutaka Miura, deputy manager of equity information at Shinko Securities.

''I do think Japanese stocks will attempt a rebound after Nikkei futures rose to 16,140,'' he said.

In Chicago, Nikkei futures expiring in June closed at 16,140, a rise of 160 points from the Osaka finish.

''As well as the advance in U.S. stocks ... the weaker yen is also likely to help spur buying of exporters,'' Miura added.

The yen was at 112.42 to the dollar in early Asian trade, well below its recent high of 108.96 hit earlier this month.

A weaker yen is a boon for Japanese exporters, as it boosts profits when earnings from abroad are brought home.

Traders expect the Nikkei average to move between 16,000 and 16,200 on Monday.

U.S. stocks gained on Friday, ending the week higher after a two-week rout.

STOCKS TO WATCH -- McDonald's Japan McDonald's Japan said on Friday it aims to create the framework of a new food business by October and has begun talks with one or two domestic companies on possible partnerships.

Eikoh Harada, chief executive of McDonald's Holdings Co.(Japan), just under half-owned by McDonald's Corp., also said the company aims to open a test store of the new business, by the end of this year.

-- Hitachi Ltd. and Mitsubishi Electric Corp.

Microchip maker Renesas Technology Corp., an unlisted joint venture between the electronics conglomerates, is expected to post a net profit in the year ending next March, its CEO said on Friday, turning around a 2.4 billion yen (.30 million) net loss in the previous business year.

REUTERS VJ RN0509