January 30, 2018 / 6:19 AM / 6 months ago

Nikkei falls to 1-month low, weighed by weakness in Apple suppliers

TOKYO, Jan 30 (Reuters) - Japan’s Nikkei share average dropped to a one-month low on Tuesday, led by weakness in Apple suppliers, while mining shares underperformed on lower oil prices.

The Nikkei ended 1.4 percent lower at 23,291.97, the lowest closing level since Dec. 29.

Apple Inc suppliers lost ground after the iPhone maker’s shares fell 2.1 percent on news that it will halve production of its $999 iPhone X.

Murata Manufacturing and Taiyo Yuden both shed 1.9 percent.

Inpex Corp dropped 2.6 percent and Japan Petroleum Exploration Co tumbled 6.1 percent after U.S. oil prices slipped on Tuesday, extending losses into a second session, as a strengthening dollar sapped demand for crude, while rising U.S. output helped dampen prices.

The broader Topix fell 1.2 percent to 1,858.13, with all of its 33 subsectors in negative territory. (Reporting by Ayai Tomisawa; Editing by Kim Coghill and Eric Meijer)

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