TOKYO, Feb 18 (Reuters) - Japan's Nikkei share average was at the mercy of twists in the Ukraine standoff on Friday, paring big early losses after news that U.S. Secretary of State Antony Blinken would meet Russian Foreign Minister Sergei Lavrov next week.

The Nikkei ended the morning session 0.51% lower at 27,094.16, after sinking as much as 1.62% earlier.

The broader Topix entered the midday break down 0.43% at 1,922.99, paring earlier losses as steep as 1.33%. Growth stocks suffered deeper declines, with an index of the shares down 0.62% versus a 0.25% retreat for value shares.

"We're at a level where investors would want to buy the dip, but at the same time, the elevated geopolitical risk means it's just as easy to see another step lower depending on the news flow," said a market participant at a domestic securities firm.

Chipmakers sank, with Tokyo Electron's 2.94% decline enough to make it the Nikkei's biggest drag by index points. Peers Advantest and Renesas dropped 2.36% and 1.04%, respectively.

Factory robot maker Fanuc was the biggest percentage decliner, down 4.87%, followed by tech company Trend Micro's 4.33% retreat after financial results disappointed investors.

Energy was the worst performing sector on the Nikkei, tumbling 1.94% amid a decline in oil prices. Financials shed 0.99% amid a retreat this week in global long-term yields as Ukraine worries weighed.

Defensive sectors including utilities and healthcare outperformed, rising 0.58% and 0.23% respectively.

The biggest gainer by index points was Uniqlo store operator Fast Retailing, which added 1.15%, helping lift consumer cyclicals by 0.64% to be the Nikkei's best performing subsector.

For the week, the Nikkei is on course for a 2.17% slide - resuming declines after a two-week respite - as twists in the Ukraine saga weighed, even as the risks of accelerated monetary tightening in the U.S. took a step down.

The Topix was on track for a 2.02% retreat, also a first drop in three weeks. (Reporting by Tokyo markets team; Editing by Shailesh Kuber)