TOKYO, April 6 (Reuters) - Japan's Nikkei share average hit more than one-week low, as investors sold exporters on the back of yen's overnight strength, while heavyweight chip-related stocks tracked the Nasdaq weakness.

The Nikkei index fell to as low as 27,467.59, its lowest since March 28, before ending the morning session at 27,513.68, down 1.08%.

The broader Topix lost 0.9% to 1,965.91.

The S&P 500 dipped and the Nasdaq ended sharply lower overnight after a growing wave of weak economic data deepened worries that the Federal Reserve's rapid interest rate hikes might tip the U.S. economy into a recession.

Overnight, the dollar held near two-month lows after the weak data supported the view that the Federal Reserve may not need to raise rates much further, propping the yen up.

A stronger yen tends to squeeze Japanese firms' overseas profits.

"The yen gained overnight, which prompted investors to sell exporters, and the chip-related shares tracked the Nasdaq weakness," said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management.

"Japanese shares will be under pressure from a sign of slowdown of the U.S. economy for a while. But towards the end of the month, there may be some domestic market moving cues as companies start reporting outlook, and the Bank of Japan will have a policy meeting."

Chip-making equipment maker Tokyo Electron Ltd slipped 4.78% to become the worst performer on the Nikkei.

Air-conditioning maker Daikin Industries Ltd lost 3.57%, leading the losses in the machinery makers' 2.57% loss, which was the worst among the Tokyo Stock Exchange's 33 industry sub-indexes.

Game and audio-equipment maker Sony Group Corp lost and a robot maker Keyence Corp fell 3.39%, sending the electronic machinery makers 2.19% lower.

Computer maker Fujitsu Ltd lost 3.90%.

The utility sector gained 1.55% to become the best performer among the sector indexes, with Chubu Electric Power Co Ltd rising 1.92% to become the best performer on the Nikkei. (Reporting by Junko Fujita; Editing by Varun H K)