Nikkei climbs as exporters and techs gain

* Nikkei up nearly 2 pct, may snap two-day falling streak

* Exporters strong on hopes for spending, techs rise

* Strong machinery orders providing additional support

* Market unimpressed so far with govt stimulus plan

TOKYO, April 9 (Reuters) - Japan's Nikkei average rose 1.8 percent on Thursday with exporters such as Canon Inc (7751.T) climbing after Wall Street rose on hopes for revived spending and with stronger than expected Japanese machinery orders also providing support. Though the market was largely unimpressed by prospects for a fresh government stimulus plan with spending of 15.4 trillion yen ($154.4 billion), emphasis on subsidies for things such as eco-friendly cars was boosting Toyota Motor Corp (7203.T) and other automakers. [ID:nTKU103354]

"The numbers themselves are largely factored in and not having that much of an impact, but it's the concrete details that really matter," said Masayoshi Okamoto, head of dealing at Jujiya Securities.

"Once we know those details, things like emphasis on eco-cars, this will likely help boost the shares of the companies affected. But the market has factored in large amounts of money."

The Nasdaq surged nearly 2 percent on hopes that a recovery in business spending will boost tech profits, while other U.S. indices gained after Bed Bath & Beyond BBY.O reported better-than-expected profits, hinting at a revival in consumer spending.

In a sign of improving sentiment, the CBOE Volatility Index .VIX -- the so-called "fear index" -- closed at its lowest level since early January.

Machinery orders, a volatile figure seen as a leading indicator of corporate spending, unexpectedly rose in February in a rare positive sign as the country suffers its worst recession since World War Two.

Core private-sector machinery orders, rose 1.4 percent in February from the previous month and compared with a median market forecast for a 6.7 percent fall. [JPMORD=ECI]

Okamoto said that while the data had contributed to the Nikkei's rise its impact was limited, and other analysts remained wary as well.

"The figure may be boosted by one-off orders for railway trains. I think orders are still on a downtrend," said Junko Nishioka, chief economist at RBS Securities.

"But it's also true that the decline is slowing. Orders perhaps kept falling in the January-March quarter but they will probably bottom out some time in the second or the third quarter."

The benchmark Nikkei .N225 gained 149.78 points to 8,744.79 and seemed on track to snap a two-day falling streak. The broader Topix gained 1.3 percent to 826.17.

Toyota was the biggest contributor to the Nikkei 225 by volume weight, rising 2.1 percent to 3,830 yen. Honda Motor Co (7267.T) rose 1.3 percent to 2,785 yen.

Canon gained 3.4 percent to 3,030 yen and Sony Corp (6758.T) rose 5 percent to 2,420 yen. Panasonic Corp (6752.T) climbed 2.4 percent to 1,256 yen.

Okamoto said that while hopes for increased U.S. spending could not be ruled out as a positive force for exporters, one of the biggest factors behind their rise was a sense that, with inventories thinned, they were now more flexible.

"Now that these companies, especially car firms, have slimmed down their inventories, they seem to be ready to respond to anything. This is really helping," he added.

Advantest Corp (6857.T) gained 4.3 percent to 1,567 yen and Kyocera Corp (6971.T) gained 1.7 percent to 6,580 yen.

(Additional reporting by Tokyo newsroom; Editing by Michael Watson)