Japan stocks jump over 2 pct on GDP, Fed steps

(Updates to 0142 GMT)

TOKYO, March 12 (Reuters) - Japanese stocks jumped more than 2 percent on Wednesday following a rally on Wall Street after the Federal Reserve moved to provide additional liquidity to credit markets.

Toyota Motor Corp (7203.T: Quote, Profile, Research, Stock Buzz) and other exporters pulled ahead, helped also by the dollar regaining some ground against the yen.

But the market was off the day's high touched immediately after the open as investors remained cautious about overall economic health.

The market got an additional boost from revised Japanese gross domestic product figures for October-December that beat economists' forecasts.

"In addition to the Fed's action, Japan's revised GDP came out better than expected," said Katsuhiko Kodama, senior strategist at Toyo Securities.

Bank shares, among the hardest hit in recent sessions, soared. No. 3 lender Sumitomo Mitsui Financial Group (8316.T: Quote, Profile, Research, Stock Buzz) jumped more than 7 percent at one point.

But Kodama and others said the market's gains may be limited ad the Fed's move was expected to be a temporary jolt.

"It's positive that the Fed took action other than a rate cut, but it is not certain that it will solve real problems," said Hiroaki Osakabe, fund manager at Chibagin Asset Management.