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Japan Nikkei climbs over 2 pct, powered by exporters

Tue Aug 5, 2008 10:08pm EDT

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(Updates to midday)

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TOKYO, Aug 6 (Reuters) - Japan's Nikkei average powered up 2.2 percent on Wednesday, led higher by Honda Motor Corp (7267.T) and other exporters on relief after signals by the Federal Reserve that it is in no hurry to raise U.S. interest rates.

Top lender Mitsubishi UFJ Financial Group (8306.T) slid 3.1 percent to 887 yen after it reported a 66 percent slide in first-quarter profit on Tuesday, hurt by more credit-related losses and a sputtering domestic economy, and stuck to its forecast for virtually no growth this year. [ID:nT259517]

The benchmark Nikkei .N225 gained 287.24 points to 13,201.90, while the broader Topix was up 1.8 percent at 1,269.93. (Reporting by Elaine Lies)

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