Nikkei up 1.5 pct on upbeat US consumer confidence

* Exporters gain on U.S. consumer confidence data jump

* Market takes large fall in Japan exports in stride

By Shinichi Saoshiro

TOKYO, May 27 (Reuters) - Japan's Nikkei stock average gained 1.5 percent on Wednesday after U.S. consumer confidence put in its biggest monthly jump in six years, boosting hopes of improvement in the U.S. and the global economy.

Exporters such consumer electronics maker Panasonic (6752.T) and Toyota Motor Corp (7203.T), which have been hurt badly by the slump in U.S. demand for Japanese goods, advanced, while chip stocks also jumped on a climb in the Philadelphia Semiconductor Index .SOXX.

The consumer confidence data helped push U.S. stocks more than 2 percent higher. [.N]

"Stocks are responding positively to yesterday's gains by their U.S. peers while taking in stride the significant fall in exports, which was well anticipated," Takahiko Murai, a general manager of equities at Nozomi Securities.

Data released on Wednesday showed Japan's exports fell 39.1 percent in April from a year earlier, though at a slower pace than in March or forecast by economists. [JPEXPY=ECI]

The benchmark Nikkei .N225 rose 138.48 points to 9,449.29, while the broader Topix climbed 1.3 percent to 895.36.

Analysts said the stock market was also lifted by prospects of investor money flowing in for domestic mutual fund launches.

But the Nikkei's upside was capped as potentially negative factors continued to linger in the background.

U.S. carmaker General Motors GM.N faces a June 1 deadline to work out issues with its creditors if it wants to avoid a bankruptcy filing.

The market is also keeping an eye on geopolitical risks after North Korea conducted nuclear experiments and test fired missiles this week, although the Nikkei has held up well despite North Korea's actions.

Panasonic rose climbed 2.3 percent to 1,354 yen and Toyota advanced 2.2 percent to 3,680 yen.

Chip and chip equipment stocks were among the biggest Nikkei 225 percentage gainers after the Philadelphia Semiconductor Index .SOXX climbed 3.7 percent.

Advantest Corp (6857.T) surged 5.1 percent to 1,703 yen, Tokyo Electron jumped 4 percent to 4,400 yen and Nikon (7731.T) rose 4.2 percent to 1,405 yen.

Mitsubishi Chemical Holdings Corp (4188.T) rose 3 percent to 413 yen after the Nikkei business daily said its Mitsubishi Chemical Corp unit plans to scrap its nylon resin business, winding down output of base material and products in three years [ID:nBNG492644] (Reporting by Shinichi Saoshiro; Editing by Edwina Gibbs)