Tokyo shares will likely trade in a narrow range next week as investors await key economic data including US jobs figures, amid concern over the state of the global economy, analysts said. In the week to March 30, the benchmark Nikkei 225 index at the Tokyo Stock Exchange rose 0.72 percent, or 72.09 points, to 10,083.56.
The Topix index of all first-section issues ended the week 0.21 percent higher, or 1.82 points, at 854.35. "Trade next week is likely to be range-bound as a new financial year starts in Japan while Chinese markets are closed until April 4," said Hiroaki Hiwata, strategist at Toyo Securities.
"And next Friday, US jobs data is due to be released," he said.
Investors were watching for the outcome of the meeting of finance ministers from the 17-nation eurozone on Friday and Saturday in Copenhagen, he said.
"But unlike a while ago, the market sentiment is not very nervous about the (eurozone's sovereign debt) issue, so if there is a positive news, that would boost share prices," he added.
After Asian markets closed Friday, Austrian Finance Minister Maria Fekter announced that eurozone nations had agreed to boost their firewall against the debt crisis to about 800 billion euros. The Bank of Japan also releases the Tankan business confidence survey on Monday.
Monex Inc chief strategist Takashi Hiroki said the Nikkei may consolidate around the 10,000 level next week with investors taking a wait-and-see attitude ahead of the economic data, and as some overseas markets close later in the week for the Easter holiday. After recent uninspiring US economic data, "some positive news will likely be a big plus for shares. Even if (US) employment figures are bad, easing hopes may emerge," he told Dow Jones Newswires.