Markets firmer, Nikkei up 0.5 pct

HONG KONG, Dec 11 (Reuters) Asian stocks rose on Monday as investors bought exporters such as Honda Motor after a closely watched U.S.

labour report eased worries about the health of the world's biggest economy, also Asia's top export market.

The influential U.S. non-farm payrolls data last Friday showed 132,000 jobs were created in November, topping Wall Street's estimates of 110,000 jobs.

At 0027 GMT, Tokyo's Nikkei average had advanced 0.52 percent as Honda Motor climbed 1.47 percent and Sony put on 1.08 percent, further helped by a stronger dollar.

Japan Tobacco added 3.09 percent, extending recent gains on speculation it was behind a takeover approach for British tobacco firm Gallaher Group Plc, a sign that it was getting increasingly aggressive in its expansion strategy.

In South Korea, strength in the banks including Woori Financial and top lender Kookmin Bank helped offset a 0.16 percent dip in heavyweight Samsung Electronics, leaving the benchmark KOSPI little changed, up just 0.12 percent.

''Any rebound will most likely be short-lived due to worries about the won. Only when the currency shows signs of stabilising will investors return to the market,'' said Kim Yong-gak, an analyst at Hyundai Securities.

The won hit a nine-year high against the dollar last week, rattling investors who fear that profits for South Korean exporters will be hurt.

Kim said investors were also likely to be cautious ahead of the Federal Reserve's rate-setting policy on Tuesday.

Australia's key S&P/ASX 200 index put on 0.27 percent, thanks in part to a 4.16 percent surge in takeover target Qantas Airways.

There is talk that the consortium, led by Macquarie Bank and Texas Pacific Group, is poised to make a formal bid for the airline this week.

But API slumped 3.43 percent after it rebuffed suitor Sigma Pharmaceuticals Ltd. and said it was talking to other parties.

MSCI's measure of Asian stocks excluding Japan eased 0.25 percent, remaining shaky after snapping 11 consecutive weeks of gains last week.

Last Friday, U.S. stocks rose on the back of the employment report, sending the blue-chip Dow up 0.24 percent and the tech-laden Nasdaq Composite Index up 0.40 percent.

The non-farm payrolls report also showed the unemployment rate edging up to 4.5 percent, from a 5-{ year low of 4.4 percent, while a separate report pointed to waning consumer confidence in December.

REUTERS PDS PM0729