Nikkei edges up, trading houses rise but yen weighs

TOKYO (Reuters) - Japan's Nikkei stock index rose 0.4 percent on Wednesday, with trading houses up after a brokerage upgraded Mitsubishi Corp <8058.T>, but gains were limited as a slightly firmer yen dragged on exporters such as Honda Motor Co <7267.T>.

First quarter gross domestic product (GDP) shrank a record 4 percent as a plunge in global demand drove Japan's export-driven economy further into recession, but that was smaller than the 4.2 percent drop expected by economists, and the market shrugged it off. The benchmark Nikkei <.N225> gained 40.17 points to 9,330.46, while the broader Topix <.TOPX> rose 0.4 percent to 883.06.

(Reporting by Elaine Lies)

Article Published: 20/05/2009