Japan Nikkei at 1-week low, exporters and banks sold

(Updates to midday)

TOKYO, May 21 (Reuters) - Japan's Nikkei stock average slid 2 percent to a one-week low on Wednesday, pressured by selling of Toyota Motor Co (7203.T) and other exporters as the yen advanced against the dollar on investor concern about the U.S. economy after a key indicator showed quickening inflation.

Financials slumped in tandem with their U.S. peers after a key U.S. analyst said the credit crisis was far from over, a day after Mitsubishi UFJ Financial Group (8306.T) forecast virtually no growth this year, though it posted a 71 percent rise in fourth-quarter profit as a turnaround in its consumer credit unit helped offset subprime losses. [ID:nT5934]

The Nikkei .N225 fell to 13,880.88, shedding 279.21 points, its lowest since May 14. The broader Topix was down 2.5 percent at 1,365.26 yen. (Reporting by Elaine Lies;)