* Nikkei rises 2.4 percent
* High-tech shares rise after rally in U.S. peers
* Trade light, dollar's dip vs yen tempers gains
(Updates with details)
By Masayuki Kitano
TOKYO, Nov 27 (Reuters) - Japan's Nikkei average rose 2.4
percent on Thursday after a rally on Wall Street, with high-tech
shares such as Kyocera Corp <6971.T> getting a boost from a rise
in their U.S. peers.
Despite the rise in the broader market, Panasonic Corp
<6752.T> fell 3.1 percent. A company source said Panasonic was
set to cut its operating profit forecast for the current business
year by 30 percent or more. []
High-tech shares gained following a rally in U.S. high tech
shares, with Kyocera Corp climbing 4.1 percent and Olympus Corp
gaining 4.5 percent <7733.T>.
"It all because of the four-day winning streak in U.S.
shares," said Tsutomu Yamada, a market analyst for Kabu.com
Securities Co.
Despite the rise in Tokyo shares, analysts were cautious
about the outlook, saying economic measures being taken around
the world such as fiscal stimulus would take time to make their
impact felt.
The Nikkei rose 198.34 points to 8,411.56 <> by midday.
The broader Topix index rose 1.8 percent to 831.92 <>.
The U.S. Standard & Poor's 500 Index <.SPX> surged 3.5
percent on Wednesday, rising for the fourth straight day for its
best run since May, and the Nasdaq Composite Index <> jumped
4.6 percent due to bargain-hunting in high-tech shares. []
The fact that the dollar has not risen much against the yen
despite the rally in U.S. shares was also tempering gains in the
Nikkei, said Toshihiko Matsuno, assistant general manager at the
investment research department of SMBC Friend Securities.
The dollar fell around 0.5 percent against the yen on
Thursday to 95.22 yen <JPY=>.
Sharp Corp <6753.T>, the world's No.2 maker of solar cells,
rose 4.9 percent after local media said it would invest about 150
billion yen in an Italian solar cell venture with Italy's Enel
SpA <ENEI.MI> and a European machine maker. []
In addition to the Wall Street rally, China's hefty rate cut
on Wednesday and Europe's economic stimulus plans were also
positive factors for Tokyo shares, market players said.
Mitsui O.S.K. Lines <9104.T> and other shipping companies
rose on bargain-hunting by investors eager to snap up shares in
the beaten-down sector.
There was also some peripheral influence on shipping shares
after China slashed interest rates on Wednesday, raising hopes
that China's economy may regain some energy in the near future.
On Wednesday, China cut interest rates by the biggest margin
in 11 years and the European Union plotted a 200 billion euro
($257.6 billion) stimulus plan as central banks and governments
acted to jolt the world out of its deepening slowdown.
[]
Trade in Tokyo shares was thin, with 721 million shares
changing hands on the Tokyo exchange's first section compared to
last week's morning average of 932 million.
Advancing shares outnumbered declining shares 976 to 569.
(Reporting by Masayuki Kitano; Editing by Sophie Hardach)
