Tokyo stocks to take cue from GDP data

TOKYO, Aug 11 (Reuters) Tokyo share prices will take their cue on Friday from Japanese gross domestic data due to be released just before the opening.

The market is seen reacting more to the GDP figure if it is better than expected, as was the case with surprisingly strong machinery orders data on Wednesday, market analysts said.

Even a figure in line with expectations would prompt buying, while the impact from a suspected plot to bomb U.S.-bound planes is seen neutral to the market for now, said Koichi Seki, manager at Chuo Securities' sales marketing department.

''There are (security) concerns from the thwarted bomb attacks. But a fall in oil prices as a result has done good for overseas markets overnight. So, the market here will probably take such concerns in its stride,'' he said.

''The trend looks basically on the rise as the market is regaining confidence over the domestic economy,'' he added.

Economists expect real GDP to have grown 0.4 percent from the previous quarter, for an annualised growth rate of 1.8 percent.

That would be slower than 3.1 percent annualised growth in January-March. Economists have blamed rainy weather for trimming consumption in the second quarter.

Nikkei futures pointed to a rise in the market.

Chicago-traded Nikkei September futures closed at 15,615, a rise of 45 points from the Osaka finish.

The Nikkei is expected to move between 15,550 and 15,750 on Friday, market participants said.

It hit its highest close in two months on Wednesday before retreating 0.16 percent to 15,630.91 on Thursday.

Technically, it has been capped by its 200-day moving average, or 15,692 as of Thursday's close.

The Bank of Japan is due to end a two-day policy-setting later in the day. But no policy change is expected after the central bank last month raised interest rates for the first time in six years.

U.S. stocks ended higher on Thursday, snapping a four-day losing streak, as a drop in oil prices and insurer AIG's solid profits outweighed security concerns.

Crude oil futures fell more than 3 percent as analysts speculated that airlines may cut back on jet fuel purchases as safety concerns limit air travel.

STOCKS TO WATCH -- Japan Airlines Corp. and All Nippon Airways Co. Ltd. T> Shares in U.S. airline stocks fell after the foiled airliner bomb plans stoked concerns about the safety of air travel.

-- Aoki Holdings Inc.

Yoshimatsu Futata, founder and adviser of Japanese menswear retailer Futata Co., said he would approve a possible decision by the chain to accept an integration proposal from bigger rival Aoki, Kyodo news agency said on Thursday.

-- Kirin Brewery Co.

Japan's biggest beer brewer reported a 20 percent rise in first-half operating profit on Thursday on strong sales of its cheaper beers and raised its beer category sales volume target and full-year revenue estimate.

-- IDU Co.

Japan's top online real estate auctioneer aims to triple its recurring profit in two years and plans to set up similar online auction markets in other Asian countries, Chief Operating Officer Shinichi Abe told Reuters in an interview on Thursday.

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