* Yen rebounds towards a three-week high vs dollar
* Aussie gives up gains made vs yen after Kirin news
* Investors wary of U.S. bank stress tests
By Satomi Noguchi
TOKYO, April 23 (Reuters) - The yen rose against the dollar on Thursday, climbing back towards a three-week high touched the previous day as U.S. stock futures fell and concerns about the banking sector re-emerged after disappointing earnings from Morgan Stanley.
S&P futures fell 0.4 percent after U.S. stocks faced a late hour sell-off on Wednesday, with investors concerned about the outlook for banks ahead of the U.S. government's "stress test" results.
The Australian dollar gave up earlier gains against the yen made after Japanese beer maker Kirin Holdings said it had offered to buy all shares in Australian brewery Lion Nathan. The Aussie's fall against the yen dragged other major currencies down against the yen.
"The currency market is lacking a clear direction, just as U.S. stocks are," said a trader at a Japanese bank.
"We have two big factors that are swinging the markets between optimism and pessimism: the eventual state of the troubled U.S. automakers, and the results of bank stress tests," the trader said.
The dollar fell 0.1 percent to 97.87 yen after rebounding from a three-week trough of 97.57 yen touched on Wednesday. The euro fell 0.3 percent to 127.08, while it was nearly flat at $1.2994.
The Australian dollar fell 0.2 percent to 68.90 yen after rising as high as 69.49 yen. (Editing by Hugh Lawson)