Tokyo shares seen making modest gains

Japanese share prices are seen rising modestly in the coming week as the market expects indicators to show a solid US economy, although political uncertainties in Tokyo will add some caution, dealers said.
The United States will announce Gross Domestic Product figures and employment report later this week.
"The markets would like to confirm the US solid economic growth through US economic indicators in the coming week," said Masatoshi Sato, an analyst at Mizuho Investors Securities.
US stock markets have gained, with Wall Street hitting four-year highs on Thursday, on the back of strong US corporate results.
The gains helped boost the Japanese market, which overlooked mixed corporate results at home including leading electronic giants plunging into the red on falling prices. Domestically, the market will have an eye on the battle over postal privatisation, which is due to see a vote in the upper house of parliament by August 13.
Prime Minister Junichiro Koizumi has vowed to push his plan to break up the post office through parliament and threatened to call a new election if parliament votes it down.
The lower house passed the reforms by a super-thin margin on July 5.
"The markets have been relatively optimistic about Japanese politics but now that the date of the vote is getting closer the markets will get more cautious," said Kazuhiro Takahashi, equity general manager at Daiwa Securities SMBC.
Both Sato and Takahashi forecast the benchmark Nikkei-225 index would try the level of 12,000.
For the week ending July 29, the Tokyo Stock Exchange's benchmark Nikkei-225 index rose 204.55 points or 1.75 percent to 11,899.60.
The broader TOPIX index of all First Section shares also gained 18.22 points or 1.54 percent to 1,204.98.
Among major shares, Honda Motor gained 160 yen or 2.85 percent to 5,780 yen. Toyota Motor rose 60 yen or 1.43 percent at 4,250 yen. And Nissan Motor added 23 yen or 2.01 percent to 1,168 yen.
Honda and Nissan this week both reported strong sales and full-year projections, although profit for the June quarter dipped year-on-year.
But Sony, which on Thursday sharply cut its profit forecast for the financial year, fell 130 yen or 3.39 percent to 3,710 for the week.
Canon lost 450 yen or 7.49 percent to 5,560 yen and Fujitsu gained 29 yen or 4.83 percent to 629 yen.