Nikkei claws higher, boosted by weaker yen and oil

(Adds stocks, details)

By Elaine Lies

TOKYO, May 12 (Reuters) - Japan's Nikkei stock average climbed 0.6 percent to its first positive close in three days on Monday, boosted by a retreat of the yen against the dollar that lifted exporters and gains in Nippon Oil Corp (5001.T: Quote, Profile, Research) and other oil-linked firms as oil hovered close to record levels.

Additional upward energy came from Konica Minolta Holdings (4902.T: Quote, Profile, Research), which surged 12.1 percent for its greatest one-day percentage gain in more than seven years on a brokerage upgrade and comparatively good earnings.

But gains were capped by losses in automakers such as Honda Motor Corp (7267.T: Quote, Profile, Research), dragged down after Toyota Motor Co (7203.T: Quote, Profile, Research) posted poor results last week.

Financials such as top lender Mitsubishi UFJ Financial Group (8306.T: Quote, Profile, Research) also slid after a massive loss by American International Group (AIG.N: Quote, Profile, Research) revived worries about the sector.

Mainly, though, the market floundered in search of direction amid thin trade.

"The market's being spun around a bit by currencies, and there's a little bargain hunting, but mainly investors are shying away from taking fresh positions ahead of Japanese GDP data on Friday and bank earnings later this week," said Tomomi Yamashita, a fund manager at Shinkin Asset Management.

"Today there's no real direction and it's hard to read what lies ahead."