Nikkei rises on gains in Wall Street; Yahoo Japan soars
* Gains limited as market eyes on BOJ * Yahoo Japan jumps on dropping plan to buy eAccess * Kubota down on Thai martial law news By Ayai Tomisawa TOKYO, May 20 (Reuters) - Japan's Nikkei share average rose on Tuesday morning, snapping a four-day losing streak supported by gains in Wall Street, while Yahoo Japan Corp soared after dropping its plan to buy mobile network operator eAccess Ltd from SoftBank Corp. However, gains were limited by expectations that the Bank Of Japan may not ease policy further any time soon. The BOJ is widely expected to keep policy unchanged at a two-day policy meeting starting on Tuesday, with traders now looking to central bank Governor Haruhiko Kuroda's news conference after the meeting for clues on direction. The Nikkei rose 0.5 percent to 14,073.46 Points by mid-morning , after falling 0.6 percent on Monday. "Investors are staying on the sidelines before they hear comments by Kuroda," said Takuya Takahashi, a strategist at Daiwa Securities. "Unless he says something that surprises the market, investors will shrug off the event itself." Yahoo jumped 14.6 percent at one point to a two-week high after saying it will proceed with a planned low-cost mobile Internet service using the eAccess mobile network. Investors continued to monitor developments in Thailand, following news the army had declared martial law after six months of anti-government protests, but traders said Japanese companies which have large exposure to Thailand may be pressured for the time being. Tractor maker Kubota Corp dropped 2.5 percent. The declaration of martial law was intended to restore peace and order and does not constitute a coup, deputy army spokesman Colonel Winthai Suvari told Reuters. Exporters were mixed after the dollar traded at 101.48 yen , a day after falling to 101.10 yen, its lowest level since early February. Honda Motor Co added 0.9 percent, Panasonic Corp dropped 1.1 percent and Canon Inc gaining 0.6 percent. The broader Topix gained 0.2 percent to 1,152.76, while the new JPX-Nikkei Index 400 gained 0.3 percent to 10,518.02. (Editing by Kim Coghill)
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