TOKYO, May 9 (Reuters) - Japan"s Nikkei share average is expected to rise to new five-year highs on Thursday buoyed by a record finish on Wall Street and the European market, while Toyota Motor Corp is likely to be in focus after reporting its full-year results. Market players said the Nikkei was likely to trade between 14,250 to 14,500 on Thursday, after ending up 0.7 percent to 14,285.69 on the previous day. The index shot up to an intrasession peak of 14,421.38 on Thursday, its highest level since June 2008. Nikkei futures in Chicago closed at 14,370, up 0.8 percent from the close in Osaka of 14,260. "Japanese stocks have already been high and some investors have expressed concern of a short-term pull-back, but there"s been renewed investor appetite after both U.S. and European stocks hit record highs," said Kenichi Hirano, a strategist at Tachibana Securities. The S&P 500 closed at an all-time high for a fifth day on Wednesday. In the currency market, the euro rose to a more than two-week peak against the yen on Wednesday as positive German data eased fears about the euro zone"s largest economy. After a brief pause, the Japanese market has resumed its record run in recent sessions, underpinned by central bank and government policies to revive growth and as the U.S., Germany and China broke a run of soft data with some upbeat economic reports. Analysts said the weak yen trend is likely to remain a prop for exporters, especially euro-sensitive stocks such as precision equipment shares and automakers like Mazda Motor Corp . "The dollar-yen level is hovering at the same level and is not providing fresh surprises. But if the euro stays above 130 yen for the day, the mood should remain positive," said Hiroichi Nishi, assistant general manager at SMBC Nikko Securities. On an individual stock basis, market participants said that Toyota, whose ADRs rose more than 3 percent, will likely attract buying despite its conservative profit forecast for the year through March 2014. "The company based its dollar-yen assumption at 90 yen, which is very, very conservative. If the company had based it at 95 yen, the forecast would have been impressive," said Tachibana"s Hirano. The dollar last traded at 98.90 yen, while the euro was at 130.12 yen. > S&P 500 ends at record for 5th day; Groupon up late > Euro jumps as upbeat German data curbs ECB easing talk > U.S. bonds make small gains as yields draw buyers > Gold up over 1 pct on dollar drop, physical demand > Oil ends mixed, Brent/WTI at narrowest in 2-plus years STOCKS TO WATCH --Toyota Motor Corp Toyota more than doubled its fourth quarter net profit, as the yen"s depreciation helped the automaker export more profitably and U.S. sales of the Avalon sedan and Tacoma truck were strong. --Toshiba Corp Toshiba forecast a 34 percent jump in operating profit for this fiscal year, boosted by strong sales of its flash memory chips, but the outlook fell short of market expectations as it struggles to turn around its TV division. The company separately said that demand for memory chips were still strong in the first quarter of this business year ending March 2014, while prices would remain steady. --Resona Holdings Inc Resona plans to finish repaying the 871.6 billion yen ($ 8.8 billion) in public funds it still owes the government in five years, the Nikkei business daily said on Thursday. - Link this
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Nikkei set to surge to fresh miltiyear highs on buoyant global mood, Toyota in focus
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