* IMF cuts global growth forecasts
* Companies with big China exposure fall
* Totech soars after raising earnings forecast
By Ayai Tomisawa
TOKYO, Jan 22 (Reuters) - Japan's Nikkei edged lower onTuesday in choppy trade, retreating from a one-month high asinvestors took profits from recent gainers amid concerns aboutslowing global economic growth.
The Nikkei share average had dipped 0.1 percent to20,706.66 points by the midday break after moving in and out ofpositive and negative territory. It ended at over a one-monthhigh on Monday.
"There were hopes for a resolution to the trade disputebetween the United States and China lately and most peopleexpect that the two countries will reach a resolution," saidIsao Kubo, equity strategist at Nissay Asset Management.
But he added that while markets awaited more news from tradenegotiations, worries about global growth mounted.
The International Monetary Fund on Monday cut its worldeconomic growth forecasts for 2019 and 2020 due to weakness inEurope and some emerging markets, and said failure to resolvetrade tensions could further destabilise a slowing globaleconomy.
The IMF's downgrade came hours after China reported itsweakest quarterly growth since the financial crisis and itsslowest annual expansion in 28 years, with further coolingexpected this year.
Adding to sour sentiment, U.S. stock futures ,which indicate how Wall Street will likely open, fell 0.5percent. U.S. markets were closed on Monday for a holiday.
Recent gainers such as machinery makers which have largeexposure to China as well as chip-related stocks lost ground,with Fanuc Corp falling 1.4 percent, Yaskawa Electricdropping 0.9 percent and Tokyo Electronshedding 0.8 percent.
Bucking the weakness, Takeda Pharmaceutical soaredas much as 2.5 percent after Bloomberg reported that thedrugmaker is considering a sale of some emerging-market drugs,as it expands a push to cut debt after its $62 billion takeoverof Shire Plc, citing people familiar with the matter.
Air-conditioning system maker Totech Corp jumped 11percent after it raised its net profit outlook for the yearending March to 3.6 billion yen form 3.2 billion yen.
The broader Topix shed 0.2 percent to 1,562.80.Declining issues outnumbered advancing ones 1,307 to 700.(Editing by Kim Coghill)
