Nikkei continues to drop over Cyprus concerns

<p>Concerns over Cyprus are pushing the Nikkei down.</p>

The Nikkei is down again and has now experienced its biggest fall in a week since November, as uncertainty over a Cyprus bailout continues to have an impact on the markets.

It dropped 2.4 per cent in today's trading (March 22nd) and is down 1.8 per cent for the week.

Mazda Motor Corp lost 2.7 per cent, Nikon Corp was down by 3.2 per cent and Shimano Inc dropped by 6.3 per cent to affect the health of the index.

"These are some of the stocks which investors want to unload when uncertainty over Europe grows," Naoki Fujiwara, a fund manager at Shinkin Asset Management, told Reuters.

Investors took their profits before the start of the weekend and the index saw a major dip in the last few minutes of trading in the afternoon session.

The drop for the Nikkei comes shortly after it reached a new four-and-a-half year high, finishing 1.3 per cent higher at 12,635.69.

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