REFILE-Nikkei rises on weaker yen, hopes for BOJ easing moves
(Corrects one word in the quote in 5th paragraph)
* Shin-Etsu Chemical soars on strong results
* Exporters gain ground on weakened yen
By Ayai Tomisawa
TOKYO, July 27 (Reuters) - Japan's Nikkei share average rose on Wednesday morning after the yen dropped on expectations of monetary easing by the Bank of Japan this week, encouraging investors to scoop up recently battered stocks.
The Nikkei rose 1.2 percent to 16,581.00 in midmorning trade.
The Nikkei newspaper reported that the government will likely inject 6 trillion yen ($57 billion) in direct fiscal outlays into the economy over the next few years under a planned stimulus package.
Although the figure was below expectations of 10 trillion yen amid fading hopes the BOJ would adopt "helicopter money", the market is expecting some form of easing to emerge from the central bank's policy meeting ending Friday, traders said.
"The street is all hot and sweaty for a dual bazooka to be launched on both fiscal and monetary nature," said Gavin Parry, managing director at Parry International Trading Ltd. "Even though there is low probability of cash drop or a citizen dividend or anything like that, I think it's still very much on the table." Continuación...