* Machinery orders give little impact - traders
* Market focused on G20 meeting - traders
By Ayai Tomisawa
TOKYO, Feb 17 (Reuters) - Japan's Nikkei share average fell in choppy trade on Wednesday morning despite gains on Wall Street as investors remained wary after recent market turmoil and amid more oil price volatility.
The Nikkei dropped 0.5 percent to 15,974.23 in mid-morning trade, swinging between positive and negative territory.
Trading was directionless amid problems ranging from a global economic slowdown, weak oil prices and concerns about banks' businesses after the Bank Of Japan announced a negative interest rate policy, as well as worries that the strong yen may eat into Japan Inc's earnings, traders said.
"Extreme volatility in the market seems to be overdone, but none of these problems has been resolved," said Hikaru Sato, a senior technical analyst at Daiwa Securities, adding that the next focus would be the G20 meeting next week.
As economic leaders from G20 nations prepare to meet in Shanghai next week, there is increasing market speculation that the world's largest economies, notably G7 countries, may produce a coordinated policy response to global market ructions and slowing growth.
The dollar was at 114.09 yen, having pulled back from a one-week high of 114.875 reached overnight.
Exporters were mixed, with Toyota Motor Corp falling 2.6 percent and Honda Motor Co rising 0.9 percent.
Oil shares were weaker, with Inpex Corp falling 5.4 percent and Japan Petroleum Exploration shedding 4.8 percent as oil prices have been seeing volatility. Brent crude climbed 47 cents to $32.65 a barrel as of 0135 GMT after settling down $1.21 in the previous session after surging to $35.55 a barrel in early trade on Tuesday.
Outperforming the market was Kubota Corp, jumping 6.6 percent after the farm equipment manufacturer announced strong earnings for the nine months through December 2015 and forecast a record profit of 155 billion yen ($1.36 billion) for the new fiscal-year period ending Dec. 31.
Japan's core machinery orders, which rose at a slower-than-expected pace in December, had little impact on the market.
The broader Topix dropped 0.3 percent to 1,292.54 and the JPX-Nikkei Index 400 declined 0.4 percent to 11,678.07. (Edited by Sam Holmes)