* Comments from Germany take wind out of equity rally* U.S. earnings in focus, Japan earnings start next weekBy Hideyuki SanoTOKYO, Oct 18 (Reuters) - Japan’s Nikkei share average fell more than 1 percent on Tuesday from a six-week high hit the previous day on concerns that Europe’s solution to its debt crisis may not be as fast and comprehensive as some had hoped for.Shares in Olympus gyrated wildly, tumbling to a fresh 2-1/2-year low since its shock dismissal of its CEO, with the camera and endoscope maker under pressure to disclose details of payments to advisers in the buyout of a UK-based medical equipment firm. It later ended morning trade up 1 percent.Germany said on Monday that a summit of EU leaders next Sunday would not produce a miracle cure for the euro zone’s sovereign debt crisis, a warning that poured cold water on hopes of a clear-cut solution to the debt’s crisis.”I’d say more than half of equity rally this month had been driven by hopes of European policy steps. I thought the rally would run out of steam after the EU summit but it came faster,” said Soichiro Monji, chief strategist at Daiwa SB Investments.The Nikkei average fell 1.5 percent to 8,742.57, while the broader Topix index lost 1.3 percent to 752.36.For now, support for the Nikkei is seen around 8,689, a 38.2 percent retracement of its rally to Monday’s six-week closing high from its Oct. 5 low, and then at its 25-day moving average, now around 8,650.”As long as the Nikkei stays above its 25-day moving average, I think the market’s uptrend will continue,” said Toshiyuki Kanayama, a market analyst at Monex Securities, adding that he thinks the market is in a rising trend after formation of double bottom in late September to early October.Shares of exporters, which had benefited from optimism on the euro zone’s debt crisis in the past week, underperformed the overall market.Machinery manufacturers and makers of electronics goods both fell 1.8 percent.Olympus continued to trade heavily and hit a fresh 2 1/2-year low of 1,455 yen before rising back to end morning trade at 1,570 yen. The stock has lost 37 percent since the abrupt firing of its CEO on Friday.The company told investors on Monday that it may take legal action against ousted Chief Executive Michael Woodford, accusing him of disclosing confidential information in media interviews.Woodford in turn has accused the board of firing him for probing allegations of improper payments related to acquisitions, according to media reports.Investors are also focused on U.S. corporate earnings, with the scorecard so far mixed at best.This week will see reports from Apple Inc , Intel Goldman Sachs , Bank of America and other prominent companies.”Looking at U.S. corporate earning so far, I’m left with the impression that even though EPS is coming in line with expectations, the top line is weak at many companies. I expect global shares to slip towards the end of month,” Monji said.Earning announcements from Japanese companies will also gather pace in the final week of October. Analysts are generally upbeat on the past quarter as companies are recovering from the damage from the earthquake and nuclear accident in March.Still, the yen’s strength and signs of slowdown in the global economy are hurting some companies, especially exporters.Yaskawa Electric , which cut its operating profit outlook for the year to March to 14 billion yen from 20 billion yen on the strong yen and slow sales of motors used in chipmaking equipment, dropped 6.1 percent to 589 yen.