RPT-GLOBAL MARKETS-Dollar retreats, Japan shares hit 6-wk high

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* Dollar trims gains as investors pocket profits

* Japan shares hit 6-wk high, U.S. jobs data helps

* Gold extends losses prompted by dollar rebound

* European share markets set to open lower

By Susan Fenton

HONG KONG, Dec 7 (Reuters) - The dollar trimmed gains on Monday as investors pocketed profits after Friday's rally while shares of Asian exporters and tech companies rose after strong U.S. jobs data bode well for a global economic recovery.

However, the jobs report also sparked speculation that U.S. interest rates could rise sooner than expected, limiting overall gains in several Asian markets and pushing U.S. equity futures down 0.2 percent. European stocks were set to dip at the opening, according to financial spreadbetters.

The dollar eased after posting its biggest one-day gain this year on Friday, jumping 2.5 percent on news that U.S. employers cut only 11,000 jobs last month, the smallest decline since the start of recession in December 2007.

The dollar was down 0.5 percent against a basket of currencies <.DXY> by Monday afternoon.

U.S. Treasuries were steady in Asia after Washington cut its estimate of the cost of the government's bail-out of the nation's big banks by at least $200 billion. [ID:nN07148822]

The 10-year Treasury yield held near a three-week high hit on Friday after the jobs report.

The jobs data underpinned investor sentiment across Asia, raising hopes that a strengthening U.S. economy will support demand for Asian exports and a global economic recovery.

However, the prospect of the Federal Reserve possibly bringing forward its first tightening, adding pressure on Asian rates to rise, made investors reluctant to push shares much higher following sharp gains in recent months.

All eyes will be on Fed Chairman Ben Bernanke, due to speak at 1745 GMT, for any hints on the rate outlook.

"Despite the positive job data, U.S. stocks did not eke out as many gains as they should have amid concerns the Fed may raise the key interest rate prematurely. But we do not think a rate hike will come until the second half of next year," said Chung Myoung-gi, an analyst at Samsung Securities in Seoul, where the benchmark index <.KS11> edged up 0.5 percent.

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Asian tech shares rose in anticipation of higher demand driven by U.S. economic recovery, boosting share markets in Japan, Korea and Taiwan.

Japan's Nikkei index <.N225> jumped 1.5 percent to a six-week closing high, as the yen's first drop below 90 to the dollar in four weeks, bolstered Japanese exporters. Taiwan's tech-heavy share index <.TWII>, and TSMC <2330.TW>, the world's biggest contract chip maker, both jumped 1.6 percent.

"The U.S. jobs data has sparked interest in a greater range of riskier assets, and this is sending investors back to stocks," said Hiroichi Nishi, general manager of equities at Nikko Cordial Securities in Tokyo.

However, resource stocks were hurt by a retreat in gold and commodities prices, dragging down shares in Australia and gold stocks in Hong Kong.

Shares of debt-laden Japan Airlines Corp <9205.T> rallied 7 percent after a government source said the cabinet was considering guaranteeing around $7.8 billion in loans and other funds to the struggling carrier. [ID:nTKZ006336]

The MSCI index of Asia Pacific stocks traded outside Japan <.MIAPJ0000PUS>, which has rallied 66 percent this year, was little changed while the Thomson Reuters index of regional shares <.TRXFLDAXPU> was down 0.4 percent, dragged lower by a dip in shares in Australia, where falling commodities prices outweighed data showing a surge in Australian job advertisements last month.

Shares of Australia's largest listed gold miner Newcrest Mining tumbled 6 percent as gold kept retreating from recent peaks. COMEX February gold was down 1 percent at $1,157.2 an ounce, after sliding 4 percent in New York on Friday.

Copper futures in Shanghai dipped 0.3 percent but metals prices have been less affected by the dollar's rebound than gold.

"Prices of metals, with the exception of gold, have been pretty much unscathed. It means that speculators still want to push prices higher," said Zhu Yanzhong, an analyst at Jinrui Futures in Shanghai.

Oil edged up 0.4 percent to $75.75 a barrel on the view that U.S. oil demand would increase in tandem with economic recovery. (Additional reporting by Elaine Lies in TOKYO, Jungyoun Park in SEOUL and Rujun Shen in SHANGHAI; Editing by Tomasz Janowski)