Nikkei set to fall as slowdown fears persist ahead of earnings

TOKYO, Oct 9 (Reuters) - Japan's Nikkei share average was seen starting weak on Tuesday as concerns grow that companies will slash full year forecasts when they announce quarterly earnings, after the World Bank warned China's slowdown could be more protracted than thought.

Market players said the Nikkei was likely to trade between 8,750 to 8,850 on Tuesday, after Nikkei futures in Chicago

closed at 8,800, down 0.8 percent from the close in Osaka


"People are basically waiting for the U.S. earnings to see just what kind of impact the general slowdown, particularly in China, has had on companies' earnings," said Toshiyuki Kanayama, senior market analyst at Monex.

U.S. stocks slipped on Monday, when the Japanese market was closed for a national holiday, after the World Bank cut its growth forecasts for the East Asia and Pacific region, and said the slowdown in China could yet worsen.

Although Japan's earning season has yet to start in earnest, last week saw profit warnings from companies as China's growth slows, a protracted euro zone crisis crimps demand and the U.S. recovery struggles to gain traction.

The Nikkei ended up 0.4 percent at 8,863.30 on Friday as investors picked up cyclical stocks that had been hammered on concerns about falling global demand, but the benchmark ended down on the week as investors generally lacked incentives to buy. > Wall St drops as investors wary of weak earnings

> Euro falls from 2-week highs vs dollar, as Spain weighs

> Prices fall as jobless rate improves, new supply due

> Gold hit by largest 2-day fall since August

> Oil dips on growth concerns; Middle East fears support


Mizuho said on Friday after the close that it would post a 173.7 billion yen ($2.2 billion) appraisal loss on its equity portfolio for the July-September quarter.


Dentsu, Japan's biggest advertising agency, said after the close on Friday that non-consolidated sales slid 8.2 percent in September from a year earlier, marking the first drop in seven months and the biggest since July 2011.

Dentsu said in a statement that it had posted double-digit declines in the information/communications and beverages/cigarettes sectors, which account for a large percentage of total sales.

($1 = 78.1600 Japanese yen)

(Reporting by Sophie Knight; Editing by Joseph Radford)

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