Nikkei up but profit-taking weighs; Pioneer climbs

* Nikkei up, but hit by profit-taking before U.S. jobs data

* Benchmark down for second week, has lost 4.8 pct in 2 wks

* NEC surges after share sale news on short-covering

* Pioneer climbs on ratings hike, cut in fund-raising

By Elaine Lies

TOKYO, Nov 6 (Reuters) - Japan's Nikkei stock average rose 0.7 percent on Friday as exporters climbed after good news on U.S. jobs renewed hopes about the pace of economic recovery and as tech shares rose after gains by their U.S. peers, but profit-taking weighed on gains.

Pioneer Corp (6773.T: Quote, Profile, Research) advanced nearly 9 percent after UBS upgraded the consumer electronics company to "neutral" from "sell" after it said on Thursday that it needs to raise less funds than previously planned, and NEC Corp (6701.T: Quote, Profile, Research) climbed despite saying it plans to raise up to $1.5 billion in shares.

But the market's gains were limited by wariness ahead of U.S. jobs data due on Friday, as well as by longer-term uncertainty about the Japanese market, which some analysts said reflected concern about more potential corporate fundraising. The Nikkei finished the week down 2.4 percent, its second straight negative week. It has lost 4.8 percent in the last two weeks.

"Japanese shares aren't rising compared to the rest of Asia because there aren't a lot of merits for investors, they aren't going to make money due to fundraising," said Tomomi Yamashita, a fund manager at Shinkin Asset Management. "As long as this funding risk is there, nobody's going to want to buy even with good earnings results. They'll just buy companies that are fiscally sound."