* Nikkei seesaws in thin trade, GDP has little impact

* Fundraising plans hit MUFG, Hitachi

* Shippers gain as index rises, retailers climb as well

By Elaine Lies

TOKYO, Nov 16 (Reuters) - Japan's Nikkei stock average rose 0.2 percent on Monday, buoyed by retailers and other defensive shares, but weighed by banks and companies including Hitachi Ltd (6501.T: Quote, Profile, Research) that sank on fundraising concerns. Hitachi, Japan's biggest electronics firm by sales, will raise up to $4.6 billion to shore up its capital, joining a scrum of Japanese firms tapping equity markets before a possible economic slowdown. [ID:nT155947]

Data showing Japan's economy expanded at the fastest pace in two years in July-September briefly buoyed shares, but market players said concerns about the future soon trimmed gains.

Japan's economy grew 1.2 percent in the third quarter from the previous three months, marking a second straight quarterly expansion, but analysts warn the recovery may lose momentum in coming quarters due to weak domestic demand. [ID:nTKZ006307]

"The GDP figures briefly pushed stocks up just after the open, but it seems that there's still a lack of confidence in Japan's domestic economy, and there are also concerns about supply," said Hiroaki Osakabe, a fund manager at Chibagin Asset Management.

"There's a sense that there'll be a slowdown in Japan's economy in the Oct-Dec quarter, along with the problem that funds just aren't coming into Japan."