Nikkei falls over 2 pct on China rate hike

TOKYO Oct 20 (Reuters) - Japan's Nikkei average slid more than 2 percent on Wednesday with investors scrambling to take profits on China's unexpected credit tightening and after worries about some U.S. banks pushed Wall Street lower.

The benchmark Nikkei .N225 fell to an intraday low of 9,316.97 -- the lowest since Sept. 15, with resource-related shares and exporters taking a hit.

"China's rate hike and the sharp fall on Wall Street were key factors that put a lot of downward pressure on the Nikkei. It could fall to around 9,200 in the near term," said Nagayuki Yamagishi, a strategist at Mitsubishi UFJ Morgan Stanley Securities.

The benchmark Nikkei .N225 was down 2.2 percent at 9,333.54 by mid-morning, while the broader Topix .TOPX fell 2.1 percent to 816.60.

The Dow Jones industrial average .DJI lost 1.5 percent and the Nasdaq Composite Index .IXIC fell 1.8 percent on fears that Bank of America (BAC.N) and possibly others may be forced to take back billions of dollars in mortgages that should not have been bundled into bonds. (Reporting by Chikafumi Hodo; Editing by Edwina Gibbs)