Japan stocks set to fall after Wall St dive

TOKYO, Oct 10 (Reuters) - Japanese stocks are likely to fall on Friday after U.S stocks plummeted as investors bet recent moves by authorities worldwide to thaw frozen credit markets would not be enough to avert a global recession. 'We lack reasons to actively buy stocks now though they have become rather cheap,' said Hiroichi Nishi, general manager of equity marketing at Nikko Cordial Securities. 'The market is focusing on steps to deal with the clogged U.S financial system ... The clogging is putting even healthy companies under pressure.' Nikkei futures traded in Chicago closed at 8,615, below 585 points from their close in Osaka, pointing to a sharply lower opening. Market participants expect the benchmark Nikkei to trade between 8,500 and 9,000 on Friday. It finished the previous day down 0.5 percent at 9,157.49, its... [read full story]