Japan's Nikkei inches higher on Fast Retailing, tech shares boost

TOKYO, Dec 5 (Reuters) - Japan's Nikkei index edged higher on Monday, led by Uniqlo brand owner Fast Retailing and heavyweight technology stocks.

The Nikkei share average .N225 was up 0.11% at 27,808.74 by the midday break, while the broader Topix .TOPX lost 0.5% to 1,944.21.

"Today's market showed little direction as U.S. jobs data did not become a market-moving catalyst. But investors have a fresh view on heavyweight technology stocks, which underpinned the Nikkei," said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities.

The S&P 500 .SPX and the Nasdaq Composite .IXIC ended slightly lower, while the Dow Jones Industrial Average .DJI edged higher on Friday, as the November payrolls report fuelled expectations the Federal Reserve would maintain its path of interest rate hikes to combat inflation.

In Japan, Fast Retailing 9983.T rose 3.8% and gave the biggest boost to the Nikkei after the clothing store operator last week said average purchases per customer rose 6.5% in November.

Chip-making equipment maker Tokyo Electron 8035.T edged up 0.6% and air-conditioning maker Daikin Industries 6367.T gained 0.45%.

The banking sector .IBNKS.T lost 1.06%, amid declines in U.S. Treasury yields, with Resona Holdings 8308.T falling 3.86% to become the biggest loser on the Nikkei.

Robot maker Fanuc 6954.T rose 2.44% and became the biggest support to the Topix.

Toyota Motor 7203.T fell 1.07% and was the biggest drag on the Topix. Nissan Motor lost 2.93% and Mitsubishi Motors 7211.T fell 2.55%.

The auto sector IITEQP.T dropped 1.14%.
Reporting by Junko Fujita; editing by Uttaresh.V

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