TOKYO, Jan 24 (Reuters) - Japan's Nikkei share average fell
on Monday, with tech shares tracking a plunge in their Wall
Street peers, while investors were also cautious ahead of a U.S.
Federal Reserve policy meeting and Japanese earnings season
getting into full swing.
The Nikkei dropped 0.55% to 27,371.11 as of the
midday break, with startup investor SoftBank Group
being the biggest drag on the index, slipping 3.13%.
Online game company Nexon dropped 3.62%, while Sony
Group retreated 2.35% and Nintendo lost 2.21%.
The broader Topix fell 0.54% to 1,916.76, with the
growth share index tumbling 0.96%, compared with a
0.14% loss for the value index.
Wall Street suffered its worst weekly drop last week since
the early days of the COVID-19 pandemic, with the tech-heavy
Nasdaq plunging 2.72% on Friday.
However in a sign that the U.S. selloff may have been
overdone, Nasdaq futures were pointing to a 0.86% rise at
Monday's reopen. That provided support for Japanese stocks,
preventing bigger losses, said a market participant at a
domestic securities firm.
Despite the Nikkei's slide, the number of winners and losers
was almost equally balanced, with 109 gainers versus 111
decliners and the remaining five flat.
Energy was the best performing sector amid a rise in crude
prices. Oil company Inpex jumped 4.38%.
Shipping companies also rallied, with Kawasaki Kisen's
4.41% advance making it the Nikkei's top gainer.
Nikon was another noteable winner, adding 3.96%,
after local media reported that earnings at rival Canon
are expected to swell 20% this year. Canon shares advanced
The Nikkei's biggest percentage decliner was shipbuilder
Mitsui E&S Holdings, which plunged 11.96% after the
company forecast an even bigger loss for this fiscal year.
(Reporting by Tokyo markets team; Editing by Rashmi Aich)