* Nikkei ticks 0.1 pct lower after hitting 15-month high
* Trading houses up after gold hits 5-week high
* JAL bid lower on mounting bankruptcy fears; banks down
* JAL woes weigh on investor confidence -analyst
By Aiko Hayashi
TOKYO, Jan 12 (Reuters) - The Nikkei average was little
changed on Tuesday, as bank shares slid on concern about exposure
to Japan Airlines Corp <9205.T>, but Mitsubishi Corp <8058.T> and
other resource firms rose on higher gold prices.
Shares of Fast Retailing <9983.T>, which runs the Uniqlo
chain of budget clothing stores, fell after Goldman Sachs said
the firm's recent earnings forecast upgrade was largely priced
in.
The Nikkei inched to a 15-month high earlier in the session,
but traders said investors were taking a wait-and-see stance,
partially because of troubled air carrier JAL.
JAL was bid sharply lower after Japanese media said the
carrier is still short of the two-thirds support it needs from
retirees to cut pension payouts, raising the prospect its pension
fund will be dissolved in step with a bankruptcy filing.
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"The impact from JAL's problems on the overall market is
limited, but the problems are certainly weighing on investor
confidence to push the market much higher," said Kenichi Hirano,
operating officer at Tachibana Securities.
In moderate trade, the benchmark Nikkei <> inched down
12.23 points to 10,786.09, after earlier climbing as high as
10,827.65, its highest since October 2008.
The broader Topix <> gained 0.5 percent to 945.61.
Japanese markets were closed on Monday for a national
holiday.
Shares of Sumitomo Mitsui Financial Group <8316.T>, Japan's
third-largest bank, fell 1.1 percent to 2867 yen. SMFG is one of
JAL's creditors.
Shares of trading house Mitsubishi Corp and other firms that
benefit from demand for natural resources, gained after strong
trade data in China showed booming demand for oil and copper and
helped boost commodity prices. []
Mitsubishi rose 2.1 percent to 2,481 yen.
"China's trade data is positive for Japanese stocks, but the
stronger yen is likely to weigh on the market and prompt
profit-taking at highs. Still, buying on dips will likely provide
some support," said Hiroichi Nishi, general manager of equity
marketing at Nikko Cordial Securities.
Market players said investors are shifting their focus to
corporate earnings reports both in the United States and Japan
for further cues for trade.
Alcoa Inc <AA.N> kicked off the U.S. earnings season by
posting a narrower fourth-quarter loss as aluminum prices inched
up, but the result fell short of expectations and its shares
dropped in after-hours trade. []
Fast Retailing shed 4.8 percent to 16,090 yen after Goldman
Sachs cut its rating to "neutral", saying the stock has largely
priced in the company's strong earnings prospects.
(Editing by David Dolan)
