Nikkei seen range-bound, Intel earnings may help

TOKYO, Oct 14 - Japan's Nikkei average is likely to move narrowly on Wednesday after U.S. stocks were hurt by disappointing sales from Johnson & Johnson, snapping the S&P 500's six-day winning streak.

But high-tech exporters such as Advantest Corp may benefit after chip maker Intel reported earnings and revenue that surpassed expectations, sending U.S. stocks futures higher.

"The market will likely be range-bound after U.S. stocks ended mixed and Nikkei futures in Chicago finished lower," said Hiroichi Nishi, general manager of equity marketing at Nikko Cordial Securities.

"But falls should be limited after Intel's very positive earnings that have sent Intel shares and U.S. stocks futures higher."

Nikkei futures traded in Chicago ended Tuesday at 10,075, down 0.1 percent from the Osaka close, pointing to a slightly lower open.

The benchmark Nikkei is likely to move between 10,000 and 10,150 on Wednesday, market participants said. It edged up 0.6 percent the previous day to end at 10,076.56.

The Standard & Poor's 500 Index slipped 0.3 percent on Tuesday. Johnson & Johnson beat Wall Street's earnings expectations, but reported revenue that was below forecasts, sending its shares lower. STOCKS TO WATCH

-- Mitsubishi Heavy

Mitsubishi Heavy is likely to have earned a group operating profit of around 18 billion yen in April-September, down 75 percent from the previous year as sales of its forklifts and other heavy machinery fell, the Nikkei business daily said.

-- Rohm Co Ltd

Japanese specialty chipmaker Rohm said on Tuesday that it would buy all the shares of U.S. sensor-maker Kionix Inc for an undisclosed sum in a bid to chase the growing motion sensor business.

-- Inpex Corp, energy-linked stocks

Energy-linked stocks may gain after oil prices rose to a seven-week high above $74 a barrel on Tuesday after OPEC raised its 2010 demand forecast and the dollar weakened, boosting demand for commodities.