Nikkei sags to four-week low as oil prices tumble

TOKYO(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 percent to close at 17,099.40 points, its lowest since Nov. 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 percent and 4.0 percent, respectively.

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

(Reporting by Thomas Wilson; Editing by Kim Coghill)