Shares in Tokyo are likely to be rangebound next week as investors stay on the sidelines ahead of the release of corporate results, brokers said Friday. Brokers said the market will also be listening to remarks by the financial heads of major economies as Japan hosts this year's meetings of the International Monetary Fund and World Bank.
"Sentiment is not so bad, as the Nikkei returned to last week's levels, beating early negative expectations," said Masatoshi Sato, strategist at Mizuho Investors Securities.
"Players may try 9,000 next week but trading is expected to be in a tight range as the market will be waiting for corporate results season," which will begin later this month, Sato added.
In the week to October 5, the benchmark Nikkei 225 index at the Tokyo Stock Exchange edged down 0.08 percent, or 6.86 points, to 8,863.30. The broader Topix index of all first-section issues lost 0.04 percent, or 0.29 points, to 737.13.
Financial markets in Tokyo will be closed on Monday for a national holiday.
Investors also remain concerned about the impact on Japanese businesses in China owing to an anti-Japanese backlash over islands claimed by both countries, brokers said.
Japanese factories and businesses across China closed or scaled back operations in September over fears they or their workers could be targeted by mobs protesting Tokyo's nationalisation of the islands.
Finance Minister Koriki Jojima, who was appointed in this week's cabinet reshuffle, will make his global debut when he holds meetings with counterparts from major economies during the IMF and World Bank meetings.
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