* Cross/yen down as Nikkei slips below 10,000
* Euro recovers after hitting about 1-mth low vs dollar
* Market awaits outcome of BRIC summit
* BOJ upgrades view on economy, keeps rate steady
By Kaori Kaneko
TOKYO, June 16 (Reuters) - The yen jumped broadly on Tuesday after a slide in global stocks boosted caution about the global economy, prompting investors to cut bets on riskier assets.
The euro fell sharply versus the yen and hit its lowest level in almost a month against the dollar after the European Central Bank said euro zone banks will probably need to write down another $283 billion.
Riskier and higher-yielding currencies such as the Australian and New Zealand dollars, which had been propelled to eight-month highs versus the yen last week, tumbled as investors continued to take profits in tandem with a fall in oil prices.
"Recent market movements suggest an increasing possibility of the recovery trade that has gone on for the past three months entering a corrective phase," said Tohru Sasaki, chief FX strategist for JPMorgan Chase Bank in Tokyo.
"Stumbling shares indicate the dollar and the yen both growing strong, with a high possibility that the yen will appreciate significantly, especially in yen crosses," Sasaki said.
The euro fell 1.2 percent to 133.40 yen extending losses following Monday's data showing the euro zone lost a record number of jobs in the first quarter of 2009.
The dollar slid 1.2 percent to 96.63 yen as short-term speculators rushed to sell the greenback to limit losses on their books after a break below the 97.00 mark, traders said.
The Aussie tumbled 1.7 percent to 76.37 yen, retreating further from an eight-month high above 80 yen touched last week. The kiwi dollar fell 1.6 percent to 60.62 yen, away from its eight-month peak around 63.40 yen struck last week.
The euro fell as low as $1.3748 on electronic trading platform EBS, its lowest since May 21. But later the European single currency recovered to $1.3804, nearly flat ahead of the release of German ZEW economic sentiment data for June at 0900 GMT.
Asian stocks fell on Tuesday in the wake of Wall Street's biggest tumble in a month, with Tokyo's Nikkei share average shedding 2.5 percent as it tumbled below the key 10,000 level.
"Investors are shifting to a cautious tone on the economy from their optimistic view previously," said Kazuyuki Kato, treasury department manager at Mizuho Trust and Banking.
The market is looking to the outcome of the first summit among leaders of Brazil, Russia, India and China -- the BRIC group of emerging powers -- later in the day in the Russian city of Yekaterinburg, which is expected to discuss issue including the status of the dollar as a reserve currency.
Any negative remarks on the dollar from leaders of the BRIC nations would hurt confidence in the U.S. currency, analysts said.
Japanese Finance Minister Kaoru Yosano reiterated on Tuesday his view that the dollar will remain the world's key reserve currency, despite rising calls among some BRIC countries to reduce dependence on it.
Japan does not disclose a breakdown of its $1 trillion of foreign reserves but much of it is thought to be in dollars, making it the world's second-largest holder of U.S. Treasuries after China.
The Bank of Japan upgraded its assessment of the economy on Tuesday at the end of a two-day monetary policy meeting and kept interest rates at 0.1 percent, as widely expected. (Additional reporting by Satomi Noguchi; Editing by Michael Watson)