Japanese shares seen buoyant with BoJ on focus

Tokyo shares are seen heading north in the coming week with investors focused on the Bank of Japan's first policy meeting under a new governor who has promised fresh easing steps.

Central bank chief Haruhiko Kuroda has repeatedly pledged more aggressive monetary policies to end decades of debilitating deflation and achieve sustainable growth.

Key is whether Kuroda can offer measures that will go beyond the market's expectations, said Nomura Securities in a note to clients.

"It is highly likely that the Bank of Japan will embark on a bold monetary policy shift at the policy board meeting," Daiwa Securities said in a note to clients.

"We expect that the Tokyo market will see progress of a weaker yen and higher stocks," he said.

In the past week to March 29, the benchmark Nikkei 225 index at the Tokyo Stock Exchange added 59.38 points or 0.48 percent to 12,397.91.

The Topix index of all first section shares edged down 3.86 points or 0.37 percent to 1,034.71.

The Japanese market has generally benefited from strong rallies on Wall Street, where investors embraced renewed optimism for the US outlook.

As possible risks going ahead, investors will follow the progress of European efforts to contain the banking crisis in Cyprus as well as the uncertain political situation in Italy.

Among possible market-moving clues in the coming week, the Bank of Japan will release its quarterly tankan survey of business sentiment on Monday before the two-day policy board meeting, which ends on Thursday.

Kuroda will address the media after the meeting.

In the United States, investors will focus on manufacturing data and jobs figures, among other indicators.