Nikkei seen up on Wall St, eyes on output data

TOKYO, Nov 29 (Reuters) Tokyo stocks are likely to inch higher on Wednesday following a small rise on Wall Street but much will depend on a reading for Japan's industrial production due before the open of trade.

Japan's industrial output probably fell again in October due to weakness in production of electronic parts and devices. The median foreast in a poll by Reuters shows a decline of 0.5 per cent versus the previous month.

The data will be released at 2350 GMT (850 JST).

''US markets have regained ground and investors think the market is getting stronger. Although gains will be limited, stocks are likely to move solidly throughout the day,'' said Tsuyoshi Segawa, equity strategist at Sinko Securities.

Nikkei futures pointed to a rise in the market. December futures traded in Chicago closed at 15,880 on Tuesday, up 30 points from their close in Osaka.

The Nikkei average is likely to move between 15,800 and 15,950 on Wednesday, market participants said, after closing the previous session down 0.19 percent at 15,855.26.

In the United States, the Dow Jones industrial average rose 0.12 percent, boosted by gains in energy shares on higher oil prices.

STOCKS TO WATCH -- SUMCO Corp.

The silicon wafer maker has decided to issue 60 billion yen worth of new shares in a public offering, the Nihon Keizai Shimbun newspaper reported on Wednesday.

-- Showa Shell Sekiyu KK T> The oil refiner said on Tuesday a state-backed body would sell nearly 9.2 million of the oil refiner's shares in a secondary offering worth about 11.8 billion yen (1 million).

-- NTT DoCoMo Inc T> The mobile phone operator will team up with Fuji Television Network Inc., Nippon Broadcasting System Inc., Sky Perfect Communications Inc. and Itochu Corp T> to develop television shows for mobile phones, the Nihon Keizai Shimbun reported on Wednesday.

-- Sawai Pharmaceutical Co. Ltd T> Japan's top generic drug maker, said on Tuesday it planned an offering of its shares worth up to million to fund an expansion in production capacity.

The offering will include a new share issue of 1.85 million shares and a greenshoe option to issue a further 200,000 shares, which combined would be worth up to 15 percent of its outstanding stock. Members of the founding Sawai family will sell another 150,000 shares.

-- D&M Holdings Inc. T> The audio electronics maker said on Tuesday it would buy the speaker systems unit of Philips Electronics for an undisclosed amount of cash.

-- Toray Industries Inc., Japan Tobacco Inc. and Torii Pharmaceutical Co. Ltd. T> The companies said they had filed a new drug application in Japan for TRK-820 as an anti-itching treatment for kidney failure patients using hemodialysis.

REUTERS SBA BST0525