TOKYO, March 4 (Reuters) - Japan's Nikkei share average

fell in a broad selloff on Wednesday as investors sold risk

assets amid the intensifying Middle East conflict.

The Nikkei fell 2.3% to 54,963.35 as of 0032 GMT,

heading for a third straight session of declines.

The broader Topix lost 2.44% to 3,680.39.

"Under these volatile circumstances, investors want to sell

down any risk assets like stocks," said Shuutarou Yasuda, a

market analyst at Tokai Tokyo Intelligence Laboratory.

"And they will think about what to do after things calm

down," he said.

Israeli and U.S. forces pounded targets across Iran on

Tuesday, prompting Iranian retaliatory strikes around the Gulf

as the conflict spread to Lebanon, rattled global markets, and

sent oil prices sharply higher.

Chip-related heavyweights led the Nikkei's decline, with

Advantest ( ADTTF ) and Tokyo Electron ( TOELF ) falling nearly 3%

each.

All the 33 industry indexes fell, with the oil refinery

index falling 5.7% to become the worst performer.

Bucking the trend, Sony Group ( SONY ) rose 0.83% and

Nintendo ( NTDOF ) was up 1.4%