Japan's Nikkei slips as post-earnings and election momentum fade

By Satoshi Sugiyama

TOKYO, Feb 17 (Reuters) - Japan's Nikkei share average fell on Tuesday as investors booked profits amid few fresh trading cues, while the post-election euphoria was ebbing and the earnings season was winding down.

The Nikkei .N225 was down 0.4% to close at 56,566.49 on the day, and declining 1.9% over four consecutive sessions. The broader Topix .TOPX dropped 0.7% to 3,761.55.

"There's just far too little in the way of catalysts," said Ryotaro Sawada, senior analyst at Tokai Tokyo Intelligence Laboratory. "We're seeing some technical profit-taking."

The Nikkei's 14-day relative strength index (RSI) is at 64, after touching 72 on Thursday. A level above 70 indicates gains have stretched too far.

Earnings season is wrapping up in the world's fourth-largest economy, with a little over half of Nikkei constituents that have reported so far beating analysts' estimates, LSEG data showed.

The post-general-election rally from last week, following fiscal dove Prime Minister Sanae Takaichi's landslide victory, also appeared to fade, Sawada said.

The benchmark Nikkei index has climbed almost 13% this year so far on expectations of hefty spending and tax cuts from Takaichi, though some analysts say the gains have come too fast.

Shares of SoftBank Group 9984.T sank 5.1%, weighing on the index by 187 points. The technology and investment conglomerate's stock has been volatile, swinging between gains and losses over the past four sessions.

Steelmaker Japan Steel Works 5631.T was the biggest percentage loser with a 5.4% drag, while information technology services firm NEC 6701.T shed 4.7%.

Meanwhile, smartphone components manufacturer Taiyo Yuden's 6976.T shares surged 8.7% to become Nikkei's best percentage gainer.

Sumitomo Pharma 4506.T jumped 7.2% after rising as much as 10.7%, while Murata MFG 6981.T climbed 6.9%.

There were 100 advancers on the Nikkei index against 125 decliners.