Nikkei hits 1-month low as banks, exporters drag

(Updates to midday)

TOKYO, Aug 19 (Reuters) - The Nikkei average slid 2.7 percent to hit a one-month low on Tuesday as recent gainers such as Canon Inc (7751.T) and bank shares took a beating after jitters about U.S. financials hurt investor confidence in the overall market.

The benchmark Nikkei .N225 shed 349.02 points to 12,816.43 by the end of the morning trade, reaching the lowest level since July 18.

The broader Topix declined 2.5 percent to 1,232.56. (Reporting by Aiko Hayashi)