Nikkei up 0.6 pct, exporters gain on softer yen

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By Taiga Uranaka

TOKYO, May 13 (Reuters) - Japan's Nikkei share average rose 0.6 percent on Tuesday, tracking overnight gains on Wall Street, led by exporters such as Canon Inc (7751.T: Quote, Profile, Research, Stock Buzz) on a softer yen.

The market also got a lift from Nikon Corp (7731.T: Quote, Profile, Research, Stock Buzz) after the precision equipment maker said that its annual profit rose 32.5 percent thanks to sales of advanced cameras and chip-making equipment and that it planned a share buyback. [ID:nT207717]

"Investors are buying up companies with good earnings," said Fumiyuki Nakanishi, group manager of the investment research department at SMBC Friend Securities.

Still, rises were limited despite hefty gains by index heavyweights, as investors locked in recent gains, with resistance for the Nikkei average seen at the five-day moving average around 13,800.

"The market is hung in the middle. We don't see strong market moving factors, either positive or negative," said Yoku Ihara, manager of the investment information department at Retela Crea Securities.

The benchmark Nikkei average .N225 ended the morning up 88.49 points at 13,831.85. The broader TOPIX index gained 0.7 percent to 1,352.01.

Nikon jumped 8.6 percent to 3,080 yen, the biggest contributor to the Nikkei.