* Exporters gain on U.S. consumer confidence data jump
* Market takes large fall in Japan exports in stride
* Industrial production data on Friday eyed
By Shinichi Saoshiro
TOKYO, May 27 (Reuters) - Japan's Nikkei stock average gained
1.5 percent on Wednesday after U.S. consumer confidence put in
its biggest monthly jump in six years, boosting hopes of
improvement in the U.S. and the global economy.
Exporters such consumer electronics maker Panasonic <6752.T>
and Toyota Motor Corp <7203.T>, which have been hurt badly by the
slump in U.S. demand for Japanese goods, advanced, while chip
stocks also jumped on a climb in the Philadelphia Semiconductor
Index <.SOXX>.
The Conference Board, an industry group, said on Tuesday its
index of consumer attitudes jumped to 54.9 in May from a revised
40.8 in April, well above forecasts centered around 42.0, helping
push U.S. stocks more than 2 percent higher. [] []
"Stocks are responding positively to yesterday's gains by
their U.S. peers while taking in stride the significant fall in
exports, which was well anticipated," said Takahiko Murai, a
general manager of equities at Nozomi Securities.
Data released on Wednesday showed Japan's exports fell 39.1
percent in April from a year earlier, though at a slower pace
than in March or forecast by economists. []
The benchmark Nikkei <> rose 135.99 points to 9,446.80
after touching 9,463.14. The broader Topix <> climbed 1.2
percent to 894.14.
Analysts said the stock market was also lifted by prospects
of investor money flowing in for domestic mutual fund launches.
But the Nikkei's upside was capped as potentially negative
factors continued to linger in the background.
U.S. carmaker General Motors <GM.N> faces a June 1 deadline
to work out issues with its creditors if it wants to avoid a
bankruptcy filing.
The market is also keeping an eye on geopolitical risks after
North Korea conducted nuclear experiments and test fired missiles
this week, although the Nikkei has held up well despite North
Korea's actions.
"The Nikkei's rise today can be attributed for the most part
to the rally in the U.S. stock market. There is also a dearth of
positive short-term domestic factors which is preventing the
index from topping 9,500," said Masayoshi Okamoto, head of
dealing at Jujiya Securities.
"Fresh incentives from the domestic front may be needed for a
break above 9,500. Friday's industrial production data is being
awaited for fresh hints of an economic recovery."
Japan's industrial output likely rose for the second straight
month in April, a Reuters poll showed, as manufacturers ramped up
production after working down inventories. []
Panasonic rose climbed 1.4 percent to 1,342 yen and Toyota
advanced 2.2 percent to 3,680 yen.
Chip and chip equipment stocks were among the biggest Nikkei
225 percentage gainers after the Philadelphia Semiconductor Index
<.SOXX> climbed 3.7 percent.
Advantest Corp <6857.T> surged 4.1 percent to 1,687 yen,
Tokyo Electron jumped 3.6 percent to 4,380 yen and Nikon <7731.T>
rose 4.2 percent to 1,405 yen.
Nikon Corp said on Tuesday it would restructure its
loss-making stepper business at home and abroad, cutting 1,000
jobs and putting its chase for new growth on hold as revenue
shrinks.
Mitsubishi Chemical Holdings Corp <4188.T> rose 3.2 percent
to 418 yen after the Nikkei business daily said its Mitsubishi
Chemical Corp unit plans to scrap its nylon resin business,
winding down output of base material and products in three years
[]
(Reporting by Shinichi Saoshiro; Editing by Edwina Gibbs)
