Japan stocks set to rise on Wall St rise, soft yen (at Reuters)

TOKYO, July 28 (Reuters) - Japan's Nikkei average is likely to rise on Monday, led higher by exporters such as Canon Inc (7751.T: ) on a softer yen and after U.S. stocks gained on a drop in oil prices and easing fears about the health of the economy. Honda Motor Co (7267.T: ) will probably be in focus after it reported quarterly earnings on Friday. Its results beat market estimates but it cut its annual profit and global car sales forecasts as it battles with rising costs for raw materials and a crumbling U.S. auto market. [ID:nT312520] "A fall in oil prices, receding worries about the U.S. financial sector and a stronger dollar will help boost the market," said Kazuhiro Takahashi, general manager of the equity marketing department at Daiwa Securities SMBC. "But big moves are unlikely as this is the first trading day of the... [read full story]