Nikkei may open higher, gains limited before tankan

TOKYO, Dec 14 (Reuters) Tokyo stocks are likely to open higher on Thursday with investors buying shares in exporters such as Honda Motor Co. Ltd. on a softer yen, but gains may be limited as investors look ahead to the Bank of Japan's tankan survey of corporate sentiment.

Investors will also likely focus on energy stocks as similar stocks rose in the United States following higher oil prices, said Kazuhiro Takahashi, a general manager in the equity marketing department at Daiwa Securities SMBC.

''The Nikkei may venture into the 16,700 level in the morning following gains in U.S. markets and a weaker yen,'' Takahashi said.

''But trade is likely to become later less active as investors wait to see the outcome of the tankan due tomorrow.'' Nikkei futures point to little change in the market. December futures traded in Chicago closed at 16,740 on Wednesday, up 40 points from their close in Osaka The Nikkei average will likely move between 16,600 and 16,750 on Thursday, Takahashi said. The benchmark rose 0.33 percent on Wednesday to 16,692.93.

The Bank of Japan will release its quarterly tankan survey for December on Friday.

Investors closely watch the tankan -- Japanese shorthand for ''near-term economic outlook'' -- to seek clues on the timing of the next rate hike by the central bank.

Against the yen the dollar rose to a three-week high at 117.65 yen on Wednesday, according to electronic trading platform EBS. The pair last traded at 117.51, up 0.6 percent.

U.S. stocks edged up on Wednesday as Exxon Mobil Corp. and the energy sector led the way as oil prices rose.

The Dow Jones industrial average advanced 0.02 percent to end at 12,317.50.

REUTERS DKS PM0511