Nikkei up 0.3 pct, Tokyo Electron, Softbank bought

(Updates to midsession)

By Taiga Uranaka

TOKYO, Oct 15 (Reuters) - Japan's Nikkei average edged up 0.3 percent on Monday, tracking gains on Wall Street, as Tokyo Electron Ltd (8035.T: Quote, Profile, Research, Stock Buzz) bounced on a brokerage report despite its weaker-than-expected orders.

Softbank Corp (9984.T: Quote, Profile, Research, Stock Buzz) was one of the biggest contributors to the average, in a sign that retail investors are coming back to the market.

Still, the upside was heavy as investors held off big bets ahead of a string of important U.S. economic data and earnings reports from global financial institutions later this week.

"Given there is a lot of market moving news to come in the United States, investors are hard-pressed to keep buying after gains in the morning," said Kenichi Hirano, operating officer at Tachibana Securities.

"Market sentiment is not bad, but it lacks specific leads to test the upside."

The benchmark Nikkei .N225 ended the morning session up 43.72 points at 17,374.89.

The broader TOPIX index reversed its earlier gains and was flat at 1,659.10, as large-cap shares such as banks weighed more heavily on the index.