Japan's Nikkei up 2 pct as Honda, banks gain

TOKYO, Feb 27 (Reuters) - Japan's Nikkei average rose 2 percent on Wednesday and hit a six-week high, with blue-chip shares such as Honda Motor Corp (7267.T) driving gains after a $15 billion share buyback plan by IBM (IBM.N) boosted investor confidence.

Mizuho Financial Group (8411.T) and other financials also rose on growing relief about the stability of U.S. bond insurers after Moody's confirmed the credit rating of MBIA Inc (MBI.N), while higher oil prices boosted energy shares.

As of 0405 GMT, the benchmark Nikkei .N225 was up 2 percent or 279.28 points at 14,104.00.

The broader TOPIX index was up 1.9 percent at 1,372.82. (Reporting by Aiko Hayashi)