Nikkei climbs after oil's fall, carmakers strong

(Updates to midday)

TOKYO, July 24 (Reuters) - Japan's Nikkei average climbed 1.3 percent, led up by Toyota Motor Co (7203.T) and fellow carmakers after oil fell to a six-week low, with a weaker yen buoying exporters across the board. Advantest Corp (6857.T) and other chip equipment firms sold off earlier this week bounced back, while banks rose on relief over help for troubled home financers Freddie Mac and Fannie Mae after U.S. President George W. Bush dropped a threat to veto a housing rescue bill.

The benchmark Nikkei .N225 gained 168.78 points to 13,481.71, taking aim at its highest close since late June, while the broader Topix .TOPX climbed 1.4 percent to 1,321.37. (Reporting by Elaine Lies)