Nikkei slips 0.8 pct as oil rise stirs econ fears

(Recasts, adds stocks and comments)

By Taiga Uranaka

TOKYO, Feb 20 (Reuters) - The Nikkei share average fell 0.8 percent on Wednesday as high oil prices fueled concern over the world's third-largest oil consuming economy, while Konica Minolta Holdings (4902.T: Quote, Profile, Research, Stock Buzz) plunged on a brokerage downgrade.

The market's fall was limited by pension funds and other buyers picking up shares seen as oversold, while oil-related issues such as Japan's largest oil explorer Inpex Holdings Inc (1605.T: Quote, Profile, Research, Stock Buzz) climbed.

U.S. crude CLc1 was hovering below $100 a barrel after hitting a record $100.10 on supply concerns.

"High crude oil prices are not good for the Japanese economy," said Naoteru Teraoka, general manager of investment mangement division at Chuo Mitsui Asset Management.

The benchmark Nikkei .N225 ended the morning down 0.8 percent at 13,651.64 and the broader TOPIX index was down 0.8 percent at 1,333.95.

Industrial robot maker Fanuc Ltd (6954.T: Quote, Profile, Research, Stock Buzz) fell 2.9 percent to 9,930 yen, becoming the biggest individual drag on the Nikkei.

Konica Minolta plunged 6 percent to 1,384 yen after Credit Suisse cut its rating to "neutral" from "outperform," citing a weak office equipment market, competition in the LCD film market and the impact of a strong yen.