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Nikkei down 1.5 pct, banks hit by U.S. fin worries

Mon Jul 14, 2008 10:07pm EDT

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(Updates to midday break)

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TOKYO, July 15 (Reuters) - The Nikkei share average fell 1.5 percent on Tuesday, led down by financials such as Japan's top lender Mitsubishi UFJ Financial Group (8306.T) on worries about the health of the U.S. banking sector.

U.S. financial shares suffered on Monday amid growing worries about regional banks following collapse of IndyMac despite the government's plan to stabilise Fannie Mae (FNM.N) and Freddie Mac (FRE.N).

The benchmark Nikkei .N225 ended the morning down 193.20 points at 12,816.96. The broader Topix lost 1.6 percent to 1,260.26.

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