Nikkei hits 5-week low, more losses eyed after support breached

Reuters

TOKYO (Reuters) - The Nikkei average fell to a five-week low on Monday after hedge funds unwound positions in construction machinery makers, spurred by Nomura Securities' downgrades on sagging China demand, with investors eyeing more losses for the benchmark after it breached a key support level.

The benchmark Nikkei average <.N225> closed down 1.5 percent at 9,460.63, while the broader Topix <.TOPX> shed 1.2 percent to 817.68.

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(Reporting by Antoni Slodkowski; Editing by Chris Gallagher)