(Updates at 0600 GMT)

TOKYO, June 12 (Reuters) - Japan's Nikkei share average

fell on Wednesday, dragged down by losses in some market

heavyweights including Fast Retailing ( FRCOF ), as caution prevailed

ahead of U.S. and Japanese central bank policy decisions.

The Nikkei ended 0.66% lower at 38,876.71 after two

straight sessions of gains. The broader Topix slipped

0.73% to 2,756.44.

"Only a handful of large technology stocks led overnight

gains of two main indexes in the United States. So, market

players were not actively buying large varieties of Japanese

stocks today," said Shuutarou Yasuda, a market analyst at Tokai

Tokyo Intelligence Laboratory.

The S&P 500 and Nasdaq registered record closing highs for a

second straight session on Tuesday, helped by a more than 7%

gain in Apple ( AAPL ) shares. The Dow Jones Industrial Average,

however, inched lower 0.31%.

Market players were awaiting a key U.S. inflation reading

and updated Federal Reserve interest rate projections due later

in the day for further direction.

The Bank of Japan will conclude its two-day policy meeting

on Friday, where it is expected to keep interest rates steady

and consider whether to offer clearer guidance on how it plans

to reduce its huge balance sheet.

Uniqlo brand owner Fast Retailing ( FRCOF ) fell 2.45% to

drag the Nikkei the most. Staffing agency Recruit Holdings ( RCRRF )

lost 2.95%. Chip-making equipment maker Tokyo Electron ( TOELF )

slipped 0.17%.

Meanwhile, suppliers of Apple ( AAPL ) rose. TDK jumped

4.35% to become the biggest support for the Nikkei, while Murata

Manufacturing ( MRAAF ) and Taiyo Yuden ( TYOYF ) climbed 2.63%

and 1.71%, respectively.

Of the 225 components of the Nikkei, 51 stocks rose and 170

fell, with four flat.

(Reporting by Junko Fujita; Editing by Subhranshu Sahu)