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Nikkei up 0.4 pct, exporters and banks advance

Thu Jul 17, 2008 10:09pm EDT

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(Updates to midday)

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TOKYO, July 18 (Reuters) - Japan's Nikkei average rose 0.4 percent on Friday, as a softer yen lifted exporters like Honda Motor Co (7267.T) and banks gained after JPMorgan's (JPM.N) profit fell less than expected.

But the market slipped back from earlier levels on caution following some disappointing U.S. earnings results released after the bell and ahead of a three-day weekend.

Japanese markets are closed on Monday for a national holiday.

The benchmark Nikkei .N225 ended the morning up 50.34 points at 12,938.29. The broader Topix gained 0.3 percent to 1,267.59.

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