Japan stocks up as U.S. fears ease, yen stabilises

(Adds stocks, details)

By Aiko Hayashi

TOKYO, March 6 (Reuters) - Japan's Nikkei average rose 1.4 percent on Thursday after hitting a six-week closing low the previous day, with exporters such as Honda Motor Co Ltd (7267.T: Quote, Profile, Research, Stock Buzz) rising on a stabilising yen and easing concerns about a U.S. recession.

Resource-related shares such as Sumitomo Metal Mining Co Ltd (5713.T: Quote, Profile, Research, Stock Buzz) gained on a jump in metal prices, while record oil prices lifted trading houses and Japan's top oil and gas developer, Inpex Holdings Inc (1605.T: Quote, Profile, Research, Stock Buzz).

U.S. stocks rose on Wednesday as data suggesting the services sector may not be as weak as feared allayed investors' concerns about a recession. [.N]

"Investors are encouraged by the better-than-expected U.S. economic data and calmer currency moves, with the yen trading around 104 yen to the dollar," said Zenshiro Mizuno, senior managing director in equity trading at Marusan Securities.

"But gains are limited as investors are trying to decide if now is the time to buy or if they should wait for another possible downward spike, though the market is generally moving on expectations that the global economy, including the United States, is likely to recover later this year."

The benchmark Nikkei average .N225 was up 186.26 points at 13,158.32 after logging its lowest close since Jan. 23 on Wednesday.

The broader TOPIX index added 1.5 percent or 19.06 points to 1,282.97.