(Corrects Nikkei closing price and morning session’s low in second paragraph) TOKYO, Aug 27 (Reuters) - Japan’s Nikkei index slid on Friday, in line with Wall Street’s declines overnight, on caution around prospects for an earlier-than-expected tapering of Federal Reserve stimulus. The Nikkei shed 0.36% to end the day at 27,641.14, but that was off the morning’s low of 27,481.23. The broader Topix lost 0.34% to 1,928.77, also recovering partially from early losses. Buyers who think stocks look like a bargain here came in, offering some support to the market, said a market participant at a domestic securities firm. The Nikkei climbed 2.32% this week, the most since May, after bouncing off an almost eight-month low hit last week. On Friday though, slides in Nikkei heavyweights weighed on the overall index, with Uniqlo-operator Fast Retailing down 1.13% and medical supply maker Terumo Corp slumping 1.78%. SoftBank Group fell 0.42%, Sony Group Corp declined 0.58% and Toyota Motor Corp dropped 0.49%. Fears of a potential shift in the Fed policy prompted a broad but shallow sell-off on Wall Street overnight, with the central bank’s annual economic symposium in Jackson Hole, Wyoming due on Friday. All three major U.S. stock indexes closed lower, with the S&P 500 and the Nasdaq notching their first session of fall in six. Several Fed officials sounded hawkish on Thursday, with St. Louis Fed president James Bullard saying he expects a “good assessment” of where the economy stands in Fed Chairman Jerome Powell’s keynote speech at the event. Among bright spots in Japanese stocks were gains for chip-related shares, with Tokyo Electron climbing 0.88% and Advantest advancing 0.76%. Shippers grabbed the top three spots in the list of gainers on the Nikkei. Mitsui OSK Lines surged 9.96%, Kawasaki Kisen jumped 7.34% and Nippon Yusen rallied 6.05%. Sea transport was the Topix’s best-performing sub-sector, climbing 7.92%. “The strength in shipping stocks, which are sensitive to the economic outlook, is psychologically providing a feeling of security,” said a market participant at another domestic securities firm. “Overall, the market isn’t suffering big losses.” (Reporting by Tokyo markets team; editing by Uttaresh.V and Subhranshu Sahu) Our Standards: The Thomson Reuters Trust Principles. PAID PROMOTIONAL LINKS Promoted by Dianomi