Tokyo stocks seen recouping losses from sell-off

TOKYO, Apr 3 (Reuters) Tokyo stocks are seen rebounding on Tuesday from their lowest close in two weeks as investors return to shares of Sony Corp. and other leading companies hit in the previous session's sell-off.

Nikkei futures pointed to a rise in the market. Contracts expiring in June finished at 17,145 in Chicago, a rise of 115 points from the close in Osaka ''We're likely to see a turnaround in the market after the rise in U.S. stocks and Nikkei futures,'' said Hiroichi Nishi, a general manager of equity marketing at Nikko Cordial Securities.

''The market is likely to try and recoup losses from yesterday's sell-off,'' Nishi said.

Shares of some of Japan's best-known companies are likely to be among the gainers, he said.

The Nikkei is likely to move between 16,950 and 17,200 on Tuesday.

The benchmark fell 1.50 percent to 17,028.41 on Monday, booking its lowest close in two weeks.

U.S. stocks advanced overnight, with the Dow Jones industrial average adding 0.23 percent and the Nasdaq Composite Index edging up 0.03 percent.

STOCKS TO WATCH -- Matsushita Electric Industrial Co. Ltd.

Panasonic maker Matsushita Electric and Taiwan's CMC Magnetics Corp. said on Monday they have reached a settlement on a DVD-related patent infringement lawsuit.

-- McDonald's Japan McDonald's Holdings Co. Ltd. (Japan) said March sales rose to a monthly record of 43 billion yen (5 million), beating the 41.9 billion yen marked in March 2001. Same-store sales climbed 8.4 percent compared with the same period a year ago.

The burger chain attributed its strong earnings to a new breakfast menu, store refurbishings and longer store hours.

-- Sanyo Shinpan Finance Co.

Sanyo Shinpan Finance Co. said on Monday its group net loss for the business year just ended would be more than twice as large as it previously expected. The consumer lender revised its 2006/07 estimate to a loss of 80.1 billion yen, compared with a previously forecast loss of 38.5 billion yen.

Sanyo Shinpan and other Japanese consumer credit firms have been forced to hike reserves against repayments of interest charges deemed by courts to be illegally high.

Reuters SBA V0515