Nikkei has worst day in over 2 mths, exporters hit

* Nikkei falls 2.9 pct, worst day in over 2 months

* Resource shares battered as commodities extend losses

* Recovery worry, yen's gains pressure exporters * Technical factors darken, Nikkei below 5-day moving average

By Elaine Lies

TOKYO, June 16 (Reuters) - Japan's Nikkei average lost 2.9 percent on Tuesday for its worst one-day percentage loss in more than two months, with shares sold across the board amid investor worry about economic recovery as the yen advanced.

Mitsubishi Corp (8058.T) and other resource shares took a hit as oil and metals prices extended losses, while property stocks slid on profit-taking after rallying for the past month.

The benchmark Nikkei .N225 fell below the hard-won 10,000 line, with some analysts saying technical factors were turning dark and the day's fall could turn out to be more than just a simple adjustment following recent sharp gains.

"The atmosphere is not particularly good, and there's a lot more pressure from outside factors, such as Asian share markets falling and the yen's advance," said Hiroaki Osakabe, a fund manager at Chibagin Asset Management.

The dollar was fetching 96.26 yen, down 1.6 percent, while the MSCI index of Asia-Pacific stocks outside Japan .MIAPJ0000PUS fell 1.8 percent. JPY=

The Nikkei has fallen below an uptrend line from the March 10 bear market low as well as its five-day moving average. Should it keep falling, its next target could be a bit below 9,600, which is where the 25-day moving average currently comes in.

"Also, if we go by previous patterns, the Nikkei has tended to hit a ceiling in June from rises during the several previous months before heading downwards, and this may be what's happening now," Osakabe said.

Others disagreed, saying a bit of adjustment is only natural given the market's recent rally. The Nikkei has risen roughly 40 percent since its March low, about 11 percent of that since the start of May.

The benchmark Nikkei lost 286.79 points to 9,752.88, pulling further away from an eight-month closing high of 10,135.82 reached on Friday, in its biggest one-day percentage fall since March 30. The broader Topix dropped 3.4 percent to 914.76.

"The selling is due to a combination of overheating and a sense of achievement after hitting 10,000," said Takashi Ushio, head of the investment strategy division at Marusan Securities.

"Yesterday's New York Fed index was basically just taken as a signal to sell, but it really wasn't that important. We won't see a major change in the trend unless there's a new financial problem or an indicator that's unexpectedly bad."

ANY EXCUSE TO SELL