TOKYO, March 10 (Reuters) - Japan's Nikkei average fell to a five-week low on Thursday, breaking below a key support level after overnight gains in oil prices and uncertainty about the Middle East sparked futures selling.
Although the charts were pointing to a further downside move for the market, some analysts stressed that bargain hunters would buy on dips if there emerges any positive news from the Middle East, leaving the near-term outlook blurry.
Chip-related shares also weighed on the market after their U.S. counterparts tumbled overnight.
The benchmark Nikkei ended the day down 1.5 percent, or 155.12 points, at 10,434.38. It fell to a five-week low, breaking below its 13-week moving average, a key support level, after data showed China ran a surprise trade deficit of $7.3 bln in February, triggering some jitters about the outlook for global growth.
Immediate support is seen at its year-to-date low of 10,237.92.
The broader Topix index fell 1.4 percent to 930.84. (Reporting by Antoni Slodkowski; Editing by Edmund Klamann)