July 30, 2008 / 2:10 AM / 11 years ago

Nikkei rises 1.2 pct; banks gain, Matsushita jumps

(Updates to midday)

TOKYO, July 30 (Reuters) - The Nikkei average rose 1.2 percent on Wednesday, boosted by Matsushita Electric Industrial Co (6752.T) after it reported solid earnings results, while financial shares gained on receding U.S. credit fears.

The benchmark Nikkei .N225 added 156.26 points to end the morning session at 13,315.71, trading above its 25-day moving average.

The broader Topix .TOPX climbed 1 percent to 1,294.77. (Reporting by Aiko Hayashi)

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