Nikkei sags to 4-week low

TOKYO, Dec 15 (Reuters): Japanese stocks fell to their lowest in four weeks on Monday as oil prices tumbled to a new 5-1/2 year low, hitting Wall Street shares and stoking fears of weak global growth.

The Nikkei benchmark lost 1.6 per cent to close at 17,099.40 points, its lowest since November 17.

Prime Minister Shinzo Abe's ruling coalition scored a landslide in Sunday's general election, as expected. But The victory, which gives the Japanese premier a fresh mandate for market-friendly growth policies, failed to cheer investors as his reflationary strategy to end 15 years of deflation has had only modest success so far.

Exporter shares suffered, with Toyota Motor Co and Mitsubishi Motors Corp losing 2.5 per cent and 4 per cent, respectively.

The broader Topix slipped 1.5 per cent to 1,379.29, while the JPX-Nikkei Index 400 also lost 1.4 per cent to 12,518.29.