Nikkei tumbles to 5-1/2-month low as China woes roil markets

domingo 23 de agosto de 2015 22:17 GYT

* Nikkei dips below 200-day moving average for 1st time since Oct

* Topix falls more than 10 pct from 8-year peak hit 2 weeks ago

* Below 19,000-mark creates buying opportunities - traders

* Sharp rises after sources say it plans tie-up with Hon Hai

By Ayai Tomisawa

TOKYO, Aug 24 (Reuters) - Japanese stocks tumbled to a 5-1/2-month low on Monday morning on a broad sell-off triggered by China growth fears, hitting cyclical stocks hard, including the likes of Toyota Motor Corp and Hitachi Ltd .

Nervousness about a China-led global economic downturn sent the Nikkei down for a fifth day, off 2.7 percent to 18,903.53 in mid-morning trade, the lowest level since March 12. The index dipped below its 200-day moving average of 18,987, the first time since Oct. 2014.

All of the broader Topix 's 33 subsectors were in negative territory, while the Topix index fell as much as 3.5 percent to 1,518.15, dropping more than 10 percent from an eight-year peak of 1,702.83 hit on August 11.

The China growth scare drove Wall Street to its steepest one-day drop in nearly four years on Friday, while the safe-haven yen rallied to a six-week peak against the dollar.   Continuación...